The Pound Euro (GBP/EUR) exchange rate is rebounding after losses in the previous session.
The Pound fell despite upbeat labour market data, showing that unemployment remained steady at 4.2% and 108,000 payrolls were added even as Omicron spread.
Today all eyes are on UK inflation data, which is expected to show inflation held steady to 5.4% in January, year on year.
The Euro gained on Tuesday, thanks in part to the weaker US Dollar. Risk sentiment improved after Russia pulled some troops off the Ukraine border. German ZEW economic sentiment also improved.
Today Eurozone industrial production is expected to fall -0.5% YoY, after falling -1.5% in December.
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