eur-bank-notes-magnifying-glass - EUR

The Pound Euro exchange rate is extending gains for a second straight session.

The Euro tumbled after German factory orders collapsed in October by -6.9% MoM, as foreign investment tumbled.

Eurozone investors sentiment also dropped to its lowest level since April.

Today German ZEW investor sentiment data will be in focus. Expectations are for a fall to 5 in December.

The Pound jumped higher in the previous session after upbeat UK construction PMIs and hawkish commentary from BoE deputy Governor Broadbent.

Broadbent said that inflation could reach 5% by next April, boosting expectations of a rate hike.

There is no high impacting UK data due to be released today.