GBP/EUR: Will Eurozone GDP Data Pull Euro Lower?

The Pound Euro (GBP/EUR) exchange rate is edging higher after solid gains in the previous session.

Comments by Bank of England Governor in the previous session helped boost the Pound. Andrew Bailey highlighted rising inflation as a potential cause for concern as the UK economic recovery picks up.

Whilst at the beginning of the year concerns over the use of negative interest rates dominated, now investors are expecting a rate hike in 2022.

The Euro has been weighed down to a strong US Dollar in recent sessions. Data has offered little support.

Today German trade balance data, Eurozone unemployment and Eurozone fourth quarter GDP data will be in focus.