The pound edged up further against the euro on Friday, signaling two consecutive weeks of gains against the single currency. Investors have continued to react positively to the Bank of England’s decision on Thursday to cut their target interest rate to 1% - a new historic low. There is a belief that the Bank of England has been proactive in the past few months in attempting to rejuvenate the economy, whereas the European Central Bank may be slightly behind the curve. Interest rates were kept on hold at 2% in the eurozone, with many anticipating that these may have to fall much further to get their economies moving again.
There are no major economic announcements due in the UK today, whilst within the EU, Sentix release their investor confidence survey.
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