The pound-euro (GBP/EUR) exchange rate is rising for a fourth day, above €1.1550.
The pound is strengthening against the euro and US dollar as market sentiment improves after hints from Trump that the Middle East conflict could end sooner, sending oil prices sharply lower.
Despite the drop in crude, the Bank of England is expected to remain cautious, as markets have recently repriced toward a more hawkish outlook.
However, further declines in oil could revive expectations for rate cuts. Attention will also turn to upcoming UK GDP data amid concerns over rising unemployment.
The euro is weaker against sterling despite oil prices falling as ECB officials maintain a cautious stance on future rate moves.
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