The Pound Euro (GBP/EUR) exchange rate is edging lower for a second straight day.

Brexit jitters have returned after Michael Gove implied that there was still some work to be done to reach a deal. The clock is ticking.

Attention now turns to the Chancellor’s Spending Review and particularly the new economic forecasts from the Office of Budget Responsibility. An upward revision to the -13% contraction forecast in March could be on the cards.

Stronger than forecast German data lifted the Euro in the previous session. However, a quiet economic calendar today means risk flows are likely to drive the common currency.