The euro-British pound sterling traded at 0.83652 on Friday, March 11th, down 0.00330, or 0.39 percent, from the previous trading session.Looking back over the last four weeks, EURGBP lost 0.11 percent. Its value has decreased by 2.56 percent over the last year.Looking ahead, we forecast Euro British Pound Sterling to be priced at 0.82811 by the end of this quarter and at 0.82913 in one year, according to Trading Economics global macro model projections and analysts' expectations. The FTSE 100 closed 0.7% higher at 7,150 on Friday, marking a weekly gain of 2.3% and rebounding from the 11-month low touched at the beginning of March, as investors weighed in on upbeat economic data while monitoring the developments of the war in Ukraine. The UK economy expanded at a faster than expected 0.8% over a month during February, underpinned by growth in all sectors. However, sentiment remained cautious amid prospects of further measures against Russia after G7 nations announced plans to strip Russia of its most favored nation status under the World Trade Organization. Leisure and travel stocks led the gains on the corporate front, driven by airline group IAG (1%) and tourism agency TUI (2.6%). The strong economic output data amid soaring inflation strengthened the case for a third interest rate hike by the Bank of England next week, although the war painted a gloomier outlook.
