The pound weakened against the euro and the dollar yesterday following the autumn Budget but has gained back some strength this morning ahead of the European Central Bank meeting.
Whilst no major changes are expected, a reiteration of the ECB’s ‘dovish’ or cautious stance could cause the euro to weaken.
Despite this, as Eurozone inflation is at a 13-year high, the markets will be looking for any comment from President Christine Lagarde that could suggest a shift in stance.
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