The pound euro (GBP/EUR) exchange rate fell on Friday for a third straight day, but gained across the week.
The euro rose on Friday after the Eurozone manufacturing PMI improved for a fourth month in April, rising to 49, its highest level in 32 months. The level 50 separates expansion from contraction.
Should Chinese goods be redirected to Europe amid the US trade war, competitive pressures could rise, particularly on prices.
The pound fell on Friday ahead of this week’s BoE rate decision. The central bank is expected to cut rates by 25 bps and could cut more aggressively this year due to Trump’s trade war.
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