{"id":114176,"date":"2023-03-30T09:42:00","date_gmt":"2023-03-30T08:42:00","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114176"},"modified":"2023-03-30T09:48:55","modified_gmt":"2023-03-30T08:48:55","slug":"107502-gbp-eur-euro-falls-after-spanish-inflation-drops","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\/","title":{"rendered":"GBP\/EUR: Euro falls after Spanish inflation drops"},"content":{"rendered":"<ul>\n<li><strong><span class=\"x_ContentPasted0\" lang=\"EN-US\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises ahead of the BoE quarterly bulletin\u00a0<\/span><\/strong><\/li>\n<li><strong><span class=\"x_ContentPasted0\" lang=\"EN-US\">Hot inflation supports further hikes\u00a0<\/span><\/strong><\/li>\n<li><strong><span class=\"x_ContentPasted0\" lang=\"EN-US\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls as Spanish inflation drops to 3.3%\u00a0<\/span><\/strong><\/li>\n<li><strong><span class=\"x_ContentPasted0\" lang=\"EN-US\">German inflation is due\u00a0<\/span><\/strong><\/li>\n<\/ul>\n<p class=\"x_MsoNormal\"><span class=\"x_ContentPasted0\" lang=\"EN-US\">The Pound Euro (GBP\/EUR) exchange rate is rising after losses in the previous session. The pair fell 0.24% yesterday, settling on Wednesday at \u20ac1.1350, after trading in a range between \u20ac1.1345 &#8211; \u20ac1.1391. At 08:45 UTC, GBP\/EUR trades +0.28% at \u20ac1.1383.\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\">The euro is fooling after Spanish inflation collapsed in February. Data showed that Spanish consumer prices dropped to 3.3% year on year, down from 6% and well below the 3.8% that analysts had been expecting. Falling energy costs helped inflation half from the previous month however core inflation which excludes energy and food prices only dipped slightly to 7.5%.<span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\">the data highlights the ECB dilemma whereby headline inflation has been falling in many of the eurozone&#8217;s 20 countries however core inflation is proving to be much stickier. This problem was highlighted by ECB policymaker Isabelle Schnabel yesterday in a speech, suggesting that the ECB has more work to do reining an inflation.<\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\">Attention will now turn to Germany where data is expected to show that inflation also cooled to 7.3% year on year down from 8.7%.<\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\">In addition to inflation investors will also be looking towards eurozone consumer confidence data which is expected to hold steady in March at -19.2. Meanwhile the economic sentiment indicator is expected to nudge higher to 99.8 up from 99.7.<\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\">The pound is showing strength faces by an upbeat market mood as investors await the Bank of England quarterly bulletin. The report could shed more light on the health of the UK economy and the possible outlook for interest rates.<\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\"><span class=\"x_ContentPasted0\">\u00a0<\/span>The pound is being broadly supported by expectations that the Bank of England may need to raise interest rates higher after inflation unexpectedly lifted to 10.4% in February and after UK food inflation rose to a record high of 15% this month. BoE Governor Andrew Bailey has said that another rate hike could be necessary.<\/p>\n<p class=\"x_MsoNormal x_ContentPasted0\">Looking ahead, UK GDP data is due tomorrow. This is the final reading so may not be as market moving.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises ahead of the BoE quarterly bulletin\u00a0 Hot inflation supports further hikes\u00a0 Euro (EUR) falls as Spanish inflation drops to 3.3%\u00a0 German inflation is due\u00a0 The Pound Euro (GBP\/EUR) exchange rate is rising after losses in the previous session. The pair fell 0.24% yesterday, settling on Wednesday at \u20ac1.1350, after trading in a [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1393,3474,3475],"class_list":{"0":"post-114176","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-euro","10":"tag-gap","11":"tag-gap-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro falls after Spanish inflation drops - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro falls after Spanish inflation drops\",\"datePublished\":\"2023-03-30T08:42:00+00:00\",\"dateModified\":\"2023-03-30T08:48:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\\\/\"},\"wordCount\":349,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100630-gbp-eur-brexit-lead-battle.jpg\",\"keywords\":[\"euro\",\"gap\",\"gap\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107502-gbp-eur-euro-falls-after-spanish-inflation-drops\\\/\",\"name\":\"GBP\\\/EUR: Euro falls after Spanish inflation drops - 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