The pound – euro (GBP/EUR) exchange rate is falling on Friday but is set to gain across the week,, the fifth straight week of gains.
The pound is falling amid a quiet day for data but is set to rise across the week.
Data this week showed UK Q1 GDP was stronger than expected at 0.7% QoQ and wage growth remained strong at 5.6%. The data supported a cautious approach to rate cuts from the BoE.
The EUR is rising but is falling across the weak on expectations that the ECB will continue cutting rates. Inflation in the region has cooled towards the 2% target levels.
The EU and US continue in trade talks with the EU in no rush, preferring to secure a good deal.