The pound euro (GBP/EUR) exchange rate is ticking lower on Tuesday after a a firmer start to the week.
The pound rose despite ongoing concerns over the outlook for the UK economy. Today attention turns to UK Services PMI which is expected to hold steady in June. Any signs of weakness in the dominant sector could hurt demand for the pound.
The euro fell yesterday after PPI wholesale inflation cooled to 36.3% YoY in May from a record 37.2% in April.
Eurozone investor sentiment also tumbled lower to a level last seen in May 2020.
Today the composite PMI is expected to fall to 51.9, from 54.8.