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.
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