The Pound has been steadily gaining versus the Euro for the last week. The ECB President, Christine Lagarde, indicated in a press conference that the ECB might raise interest rates sooner rather than later. This caused an immediate weakening of the Pound although the rate reversed again a week ago and has been steadily climbing since. Today sees further speeches from the ECB President so it could be an interesting day for GBP/EUR.
Against the Dollar the Pound has been in a relatively tight range since the start of the year and with no scheduled news from the States today it's unlikely the rate will shift hugely.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
EUR: 16:15 ECB Speech
EUR: 16:30 ECB Speech
JPN: 23:50 GDP Data
UK: Tuesday 07:00 Employment Numbers
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