The Pound Euro (GBP/EUR) exchange rate is edging lower after small gains yesterday. The pair is set to lose 1.7% across the week.
The Euro is rising after a more hawkish than expected turn from the ECB, which plans to wind up the bond buying programme at as faster rate, as inflation fears grow.
German inflation data today is expected to confirm 5.1% YoY in February.
The Pound trades under pressure ahead of GDP data, which is expected to rise 0.2% MoM, after contracting -0.2% in December. Despite the expected growth fears are rising over growth going forwards given the Ukraine crisis.
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