GBP: Chancellor Reeves presents the Spring Statement today– Danske Bank

EUR/GBP continues its steady decline lower after the sharp move higher at the beginning of March, Danske Bank's FX analyst Jesper Fjärstedt reports.

EUR/GBP continues its steady decline

"The fundamental shift in German fiscal policy has the been the primary driver. PMI data provided a lending hand highlighting the growth pickup in the UK economy. It is an action-packed day in the UK today."

"In the afternoon, Chancellor Reeves will present the Spring Statement where the Labour government faces some tough choices in meeting its fiscal objective while aiming to improve the UK economy's growth prospects."

"We highlight the topside risk to EUR/GBP on budget news while we maintain our strategic bearish profile for the cross."