GBP/EUR: the pair rises above €1.17

The Pound Euro (GBP/EUR) exchange rate is holding steady after yesterday’s gains saw the pair close above €1.17.

The Euro fell yesterday even though German ZEW Economic Sentiment unexpectedly improved to -34.5 from -41.

German inflation data is in focus today and should confirm the preliminary reading of 7.4% YoY.

The pound rose despite signs of the cost of living crisis hurting consumer habits, with BRC retail sales falling -0.3% year-on-year.

There is no high impact UK data today.

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