{"id":117852,"date":"2024-06-06T12:00:59","date_gmt":"2024-06-06T11:00:59","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=117852"},"modified":"2024-06-06T22:12:50","modified_gmt":"2024-06-06T21:12:50","slug":"109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\/","title":{"rendered":"GBP\/EUR: Euro rises ahead of the ECB rate decision"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is falling after losses yesterday<\/strong><\/li>\n<li><strong>UK construction activity grew at its fastest pace in 2 years<\/strong><\/li>\n<li><strong>Euro (EUR) rises ahead of the ECB rate decision<\/strong><\/li>\n<li><strong>ECB is expected to cut rates by 25 bps<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is rising after four days of losses. The pair fell -0.06% in the previous session, settling on Tuesday at \u20ac1.1733 and trading in a range between \u20ac1.1729 and \u20ac1.1762. At 16:00 UTC, GBP\/EUR trades 0.22% at \u20ac1.1758.<\/p>\n<p>The Euro is rising as investors look ahead to the European Central Bank&#8217;s interest rate decision, which will be taken short. The ECB is expected to cut interest rates by 25 basis points, taking the lending rate from a record 4% to 3.75%.<\/p>\n<p>This will be the first ECB rate cut in almost five years and comes against an interesting backdrop for loosening monetary policy.<\/p>\n<p>The ECB is set to cut interest rates as business activity expands at the fastest pace in almost a year, as unemployment has fallen to a record low, and as inflation has ticked higher to 2.6% year on year in May.<\/p>\n<p>As a result, the ECB could ultimately revise its inflation forecast and may be reluctant to signal imminent further rate cuts.<\/p>\n<p>Instead, the ECB could adopt a more cautious tone towards the future path of rate cuts, which could be supportive of the euro.<\/p>\n<p>Meanwhile, investors have shrugged off weaker-than-expected eurozone retail sales which fell 0.5% month on month in April after rising 0.7% in March. The data highlights the pressure that households are under.<\/p>\n<p>Meanwhile the pound is falling despite data showing that the UK construction sector grew at its fastest pace in almost two years.<\/p>\n<p>The construction PMI rose to 54.3 in May, up from 53 in April, in a sign of recovery. However, it&#8217;s worth noting that the construction sector is small in the UK economy, which would explain the limited impact that the data has had on the pound.<\/p>\n<p>The data comes after the services PMI, which is the dominant sector in the UK economy, fell back from an 11-month high in April at 52.9 and also showed that price pressures eased.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is falling after losses yesterday UK construction activity grew at its fastest pace in 2 years Euro (EUR) rises ahead of the ECB rate decision ECB is expected to cut rates by 25 bps The Pound Euro (GBP\/EUR) exchange rate is rising after four days of losses. The pair fell -0.06% in the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-117852","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro rises ahead of the ECB rate decision - 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\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\/\" \/>\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\\\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro rises ahead of the ECB rate decision\",\"datePublished\":\"2024-06-06T11:00:59+00:00\",\"dateModified\":\"2024-06-06T21:12:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\\\/\"},\"wordCount\":357,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100632-gbp-eur-uk-politics-german-data.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109111-gbp-eur-euro-rises-ahead-of-the-ecb-rate-decision-2\\\/\",\"name\":\"GBP\\\/EUR: Euro rises ahead of the ECB rate decision - 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