gbp-coins - GBP

The pound euro exchange rate is ticking lower after a few days of small gains.

The pound ticked a few points higher yesterday despite GDP data showing that the the UK  rebounded at a slower pace than expected in July. UK GDP was 0.2% MoM.

Today attention is on the UK jobs report which is expected to show that unemployment held steady at 3.8%.

The euro is ticking higher ahead of a busy day with German ZEW economic sentiment and German inflation data due.

Economic morale is expected to fall further to -60 after falling to -55.3 in August, its lowest level since the financial crisis.