The Pound Euro (GBP/EUR) exchange rate fell yesterday and is extending those losses today.
Rising tensions between the EU and the UK surrounding Brexit and the Northern Ireland Protocol has unnerved the market. Fears of a trade war grow.
UK GDP is expected to show growth of 1% QoQ, but March to show growth of just 0.1% with the BoE warning of a recession.
The euro rose yesterday after German inflation confirmed 7.4% and ECB’s Christine Lagarde hinted at a July rate hike.
There is no high impacting eurozone data due for release today.