GBP/EUR: Brexit Nerves Weigh On Pound

The Pound Euro (GBP/EUR) exchange rate is holding steady after booking mild losses on Tuesday.

The Euro advanced in the previous session following a surprise rise in German factory orders. Order unexpectedly jumped 3.4% in July after a 4.6% rise in June.

Today there is plenty of data for investors to sink their teeth into including ZEW German sentiment data, with is expected to show a deterioration in morale, Eurozone GDP the third revision which is forecast to hold steady at 2% and German industrial production which is expected to expand 0.7% MoM.

The Pound is lacking fresh catalysts. Sterling drifted lower amid a lack of data and as Brexit concerns linger.

There is no high impacting UK economic data due until Friday’s GDP.