GBP/EUR: Euro Lower On Fears Italy Will Defy Budget Rules

The Pound Euro (GBP/EUR) exchange rate is rising for a third straight day.

The Pound rose yesterday after the services PMI rose by more than expected in March to 61.5, up from 60.5 in February. Construction PMI data is due today.

The Euro came under pressure as more sanctions were discussed for Russia in light of the horrific attacks on civilians.

Eurozone composite PMI fell by lress than expected in March to 54.9, down from 55.5.

Eurozone producer prices are due to be released and are expected to show 31.6% YoY.