Thhe pound euro (GBP/EUR) exchange rate is falling for a second straight day, dropping to €1.16.
The euro is rising despite weaker-than-expected German industrial output, which fell -0.4% MoM in March after rising 1.7% in February. The data comes after factory orders unexpectedly dropped yesterday.
The data suggests that the recovery of the German economy could be a long road.
The pound is falling ahead of the BoE interest rate decision tomorrow. The BoE is expected to leave rates unchanged at 5.25% but could start to pave the way for a rate cut in the coming months.
