The pound euro exchange rate is edging lower after rising across the rest of the week.
The pound rallied yesterday after Boris Johnson resigned. However the prospect of a long leadership contest, leaving the country is limbo, is hurting demand today.
The euro has been pulled lower this week on recession fears and as worries over gas supply to the region rise.
Italian manufacturing rose 3.4% year on year, below forecasts.
ECB President Christine Lagarde is due to speak and could shed more light on the path for interest rates