A 25 year high in manufacturing activity was recorded in April boosting the Pound in the previous session. The manufacturing PMI came in at 60.9, up from the preliminary read of 60.7 and the highest reading since 1994.
There is no high impacting UK data today. Attention will turn to Thursday’s BoE monetary policy meeting.
The Euro came under pressure amid a firmer US Dollar on Tuesday. Attention will now turn to the service sector PMI data. Expectations are for a return to a slight expansion in April after months of contraction.