The Pound Euro (GBP/EUR) exchange rate is moving mildly lower on Tuesday for a second day.

The Euro reacted to mixed data. German factory orders unexpectedly declined in April. However, investor sentiment jumped, hitting its highest level since 2018.

Eurozone GDP data and German ZEW sentiment index are in focus today.

The Pound ticked lower in the previous session despite consumer confidence hitting a 5 year high and as house prices rising to a record high.

Covid cases are still on the rise however deaths remain very low. The British government’s spokesperson said that the 21st of June remains on track to ease restrictions.