GBP Falls as Strong German Data Weighs on Sterling

The Pound Sterling to Euro exchange rate took a hit at the end of last week due to rising German business confidence, which climbed to its highest level since 1969.

This news weighed on the GBP/EUR pairing, causing it to fall by -0.3% to 1.1192 as trading came to a close.

Bank of England's Silvana Tenreyro provided some support for the Pound with her comments on monetary policy, suggesting that Brexit could lead to tighter interest rates rather than looser ones as previously thought.