The Pound Euro (GBP/EUR) exchange rate is slipping lower after 5 straight days of gains.
The Pound’s rally is running out of steam amid a lack of fresh catalysts. The vaccine rollout continues to under pin demand for sterling.
BRC like for like retail sales also showed a solid rebound in February which has added to the buying tone towards the Pound.
There is no further data until Friday when monthly GDP figures could spark fresh movement in the Pound.
The Euro was boosted by a stronger US Dollar on Tuesday and by an upward revision to the Q4 GDP reading which ticked up to -4.9% contraction YoY.
Attention will now start to Thursday’s ECB meeting.