gbp-euro-coins - GBP/EUR

The Pound Euro (GBP/EUR) exchange rate is heading higher after losses on Tuesday.

The Pound fell on Tuesday even after business activity data came in better than expected in November. The composite PMI printed at 57.7, just down mildly from 57.8 in October.

There is no high impacting data due to be released today so movements in the Euro could drive the pair.

Meanwhile the Euro shot higher on Tuesday after business activity growth unexpectedly accelerated in November. The Eurozone composite PMI rose to 55.8 up from 54.2 in October.

Today investors will look towards German IFO business climate data. Analysts are expecting a slight deterioration in sentiment.