GBP/EUR: Gloomy Brexit News Weigh On Pound vs. Euro

The Pound Euro (GBP/EUR) exchange rate is rising after a weaker start.

The pound is pushing higher for a third day after the BoE hiked interest rates by 25 basis points. The central bank is expected to keep hiking rates as inflation is expected rise to 11% in the coming months.

The euro is extending declines amid ongoing concerns over unsustainable government debt payments in peripheral Europe.

Attention is now turning to eurozone inflation data which is expected to confirm the 8.1% preliminary reading.