The pound euro (GBP/EUR) exchange rate is edging a few points higher on Tuesday, towards €1.14 after losses yesterday.
The euro pushed higher in the previous session, lifted by hawkish comments from ECB policymakers Klaas Knot and Peter Kazimir, both of who supported to more 50 basis point rate hikes, at the least.
Today eurozone PMI data is in focus and is expected to show that the composite PMI rose to 49.8 in January, up from 49.3 in December.
The UK PMI will also be under the spotlight and is expected to show that business activity improved, with the composite PMI rising to 49.3, up from 49.
The level 50 separates expansion from contraction.
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