The Pound Euro (GBP/EUR) exchange rate is steadying after plunging in the previous session to its lowest level since July.
The Pound dived to a two-month low versus the Euro as the outlook for the UK economy darkened. Supply chain bottlenecks, labour market shortages and no petrol at the pumps are combining to create a grim picture for the UK economy.
There is no high impacting UK data. BoE Governor Andrew Bailey is due to speak later today.
The Euro showed resilience in risk off trade on Tuesday, thanks in part to better than forecast German GFK consumer confidence numbers.
Consumer morale rose for October to 0.3, up from -1.1 in September and well ahead of the -1.6-decline forecast.