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GBP: Pound stable after positive week for economy

The pound has been dancing around close to its highest point against the euro in 2023 but without breaking any new ground yesterday, despite the upbeat assessment of the IMF for the UK economy and with inflation data strongly suggestive of more interest rate rises.

After the Bank Holiday on Monday the next week is very light on data and with no interest rate decision due until 22nd June GBP/EUR is more likely to be reacting to the slew of data from the EU and US side of the equations.

GBP/EUR past year

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