The pound has strengthened against the euro and the dollar this morning, building on gains made yesterday following high inflation figures.
The main focus for the markets today will be the European Central Bank’s interest rate decision. Although the interest rate is expected to be kept the same, the message delivered from officials surrounding monetary policy and interest rates for the rest of the year will be listened to closely.
The euro has strengthened against the dollar in anticipation of a more ‘hawkish’ message from officials and could be impacted by news from the meeting, which is due to take place around lunchtime.
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