The pound euro (GBP/EUR) exchange rate is falling.
The pound is falling, giving up earlier gains, despite stronger UK GDP data and as Andrew Bailey signals no rush to raise rates. The UK economy grew 0.5% in February, beating expectations, though the International Monetary Fund warns the UK is vulnerable to energy shocks, cutting growth forecasts to 0.8% this year.
The euro is rising as inflation rose 2.6% YoY in March, driven by higher energy costs.
European Central Bank minutes show policymakers remain cautious, monitoring inflation risks but stressing no urgency to tighten policy amid ongoing uncertainty.
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