Pound V euro: GBP exchange rate steady as UK mortgage approvals slide

The pound euro tit for tat rate is currently at around €1.145.

The pairing is currently holding close to this morning’s debut levels in the wake of today’s mortgage figures.

According to statistics published by UK Back, mortgage approvals slid from 40,000 to 38,000 in February, deterioration below expectations and striking its second lowest level since 2016.

The steal comes as households continue to feel the bite of high inflation and infirm wage growth, while uncertainty over Brexit affecting consumer faith.

Notwithstanding, while February’s figures were a little underwhelming, analysts advance that the easing pressure on household finances should prompt a rebound in pecuniary activity, including mortgages, later this year.

Eric Leenders, Control Director at UK Finance said: “Meanwhile real wages continue to be jammed by inflation, impacting on consumer confidence and retail sales.

“This constraints on household incomes should ease in the coming months, as the effect of the be destroyed in Sterling begins to fade and the strong labour market leads to a preferably outlook for wage growth.”

At the same time the euro has found some countenance this morning thanks to some stronger-than-expected GDP figures from France.

Data published by France’s INSEE statistics activity reveal that the domestic economy grew by 0.7 per cent in the fourth lodgings.

This was up from 0.5 per cent in the three months to September and tempi previous estimates of a more modest expansion of 0.6 per cent.

Looking winning, the pound euro exchange rate is likely to see some movement later this afternoon.

This require follow a speech by the European Central Bank’s (ECB) Danièle Nouy.

EUR investors are conceivable to pay close attention to the ECB policymaker’s remarks today.

It comes amid recent write ups that suggest that the bank is considering shifting towards when it may be correct to begin raising interest rates.

Any confirmation that this is on my honour the case is likely to cause the euro to surge higher.

Meanwhile the Confederation of British Toil (CBI) will release its latest retail figures on Wednesday.

The pound inclination likely to move higher if activity in the sector rose in March, as assumed.