GBP/EUR: UK GDP & ECB Minutes To Drive Pound vs. Euro Trading

The Pound Euro (GBP/EUR) exchange rate is ticking just a few pips lower on Wednesday in a quiet start to the European session.

The Pound is underpinned by reopening optimism as the vaccine programme continues at a swift pace. Data from the British retail consortium revealed that sales surged this month at the fastest pace in 2.5 years.

The Euro broadly shrugged off news that the German government has upgraded its GDP forecast for 2021. The outlook for the economy has improved as the vaccine programme accelerates.

Attention will now turn to German consumer confidence numbers which are expected to show an improvement in morale to -3.5 in April, up from -6.2 in March.