The pound euro (GBP/EUR) exchange rate is falling on the final day of the week, dropping below €1.1250.
The pound is on the backfoot ahead of UK GDP data which is expected to show that the economy contracted -0.2% MoM in November after rising 0.5% in October.
The data comes amid a dire outlook for the UK economy with Nomura warning that house prices will fall 15% this year.
The euro has risen as recession fears calm and on hawkish ECB officials.
Today sees the release of German GDP data which is expected to show that the economy grew 1.8% in 2022, down from 2.6% the year earlier.
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