The Pound Euro exchange rate is tumbling lower on Friday, adding to yesterday’s 1% declines
The Pound dropped sharply in the previous session as US treasury yields surged boosting the US Dollar. The Pound was due a bout of profit taking after rising by as much as 3% across February’s to Wednesday’s high.
There is no high impacting UK data. BoE Ramsden is due to speak.
The Euro proved to be more resilient amid a surging US Dollar. Stronger than expected German consumer sentiment helped to underpin the common currency.
Today there is no high impacting Eurozone data leaving sentiment and the US Dollar to drive movement.