The Pound Euro (GBP/EUR) exchange rate is moving lower after gains in the previous session.
The Pound moved higher in the previous session against the Euro but remained depressed against the US Dollar after British Prime Minister Boris Johnson tightened COVID measures. BoE rate hike expectations eased after the move.
UK GDP, manufacturing and industrial production data are due to be released later.
The Euro tumbled across the board on Thursday on rumors that the ECB could expand, albeit temporarily the asset purchase programme at the next ECB meeting. This policy easing would be in complete divergence to the Fed and the BoE which are looking to tighten policy in the next move.
German inflation data is expected to confirm the preliminary reading of 5.2% a 29 year high.