The Pound Euro (GBP/EUR) exchange rate is heading higher after losses in the previous session.
The Pound fell as inflation jumped to 6.2% YoY a fresh 30 year high and investors fretted that further rate hikes by the BoE could hurt economic growth.
Today UK PMI data is expected to show that business activity slowed in March to 57.8, down from 59.9.
The Euro fell yesterday after consumer sentiment tumbled to the lowest level since May 2020 on rising prices and war concerns.
Today the PMI data is also expected to show slowing growth with the composite PMI forecast at 54 down from 55.5
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