The pound weakened against the euro yesterday but strengthened against the dollar.
The cause of sterling’s fall appears to be the rising tensions over post-Brexit fishing rights following the detainment of a British trawler in French waters. The UK described the move as “unjustified” and has called for talks.
The euro saw fresh strength after the European Central Bank’s latest monetary policy meeting. Interest rates were maintained.
After disappointing US GDP data yesterday, all eyes are now on US PCE inflation today for fresh dollar impetus.
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