GBP/EUR: Pound Holding Firm vs. Euro After EU Leaders Sign Off Brexit

The Pound Euro (GBP/EUR) exchange rate is pushing higher on Thursday coming within a breath of €1.1850.

The pound slipped yesterday despite stronger than expected economic growth. UK GDP rose to 0.5% MoM in May, after two months of contraction and despite the cost of living crisis.

The Conservative leadership sees ex- finance minister Rishi Sunak take the lead.

The euro gained yesterday after German inflation confirmed the record high 8.2% preliminary print and after eurozone industrial production was rose 1.6% rebounding from -2.5%.

German wholesale inflation is due today and could provide clues as to whether inflation is starting to show signs of cooling.