The British Pound exchange rate (GBP/EUR) is down on Thursday, after slight gains yesterday.
The pound is under pressure as attention turns to the BoE’s interest rate decision.
The central bank is expected to raise interest rates by 0.25%, the fourth consecutive meeting where rates will be raised. However, concerns are growing about the economic outlook amid fears of recession.
The euro is on the rise despite falling orders from German factories. Orders fell -4.7% MoM in March amid fallout from the Russian war and COVID lockdowns in China.
ECB’s Lane is due to speak later.