Pound Recovers Slightly but Struggles to Gain Momentum

The Pound (GBP) recovered slightly on Tuesday after falling to a three-week low against the Euro (EUR), but its gains were limited due to the absence of fresh UK economic data.

The GBP/EUR exchange rate edged higher, trading at around €1.1691, up marginally from the day's opening levels.

However, despite some bargain hunting and a reduction in government borrowing costs, the Pound struggled to gather momentum due to decreased expectations of a more hawkish stance by the Bank of England (BoE) at its upcoming policy announcement on Thursday.