The pound is weaker against the euro and the dollar this morning. GDP figures were released for the UK, showing that economic growth was slower-than-expected in February, mainly driven by a drop of activity in the manufacturing sector.
The markets will look ahead to inflation figures, which are due to be released for both the UK and US this week. Whilst inflation is expected to go up for both countries, any surprise figures could impact the pound and the dollar.
The euro has been given a boost this morning following news that Emmanuel Macron has taken the lead in the French Presidential elections. The first round took place yesterday, with Macron and Marine Le Pen emerging as the front runners. The second round will take place on April 24.
The European Central Bank will release its latest decision on interest rates this Thursday. Any comments from officials surrounding monetary policy and the impact of the war in Ukraine on the European economy could affect the euro.
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