The pound euro (GBP/EUR) is steadying after falling to a two month low.
The euro rose yesterday after inflation in the bloc hit 9.1% a record high amid surging energy and food prices. The ECB are set for another large rate hike next week, will it be 50 or 75 basis points?
Today German retail sales and eurozone manufacturing PMI data is due to be released.
The pound has been falling across recent sessions as recession fears build. The jump in energy prices after the Ofgem price cap hike is set to hit households disposable income hard.
UK manufacturing PMI data is expected to confirm the sector contracted in August.