The Pound Euro (GBP/EUR) exchange rate is licking its wounds after tumbling over 1% in the previous session.

The Pound dived lower despite the UK heading towards the reopening of the economy on 12th April.

The IMF also upgraded the UK economic growth forecast to 5.3% up from 4.5% in January. This is mainly thanks to the rapid vaccine rollout.

Service sector PMI data will be in focus for both the UK and the Eurozone.

The UK data is expected to confirm a strong expansion in March. The Eurozone PMI reading is expected to confirm a less deep contraction.