The pound euro (GBP/EUR) exchange rate is edging lower, falling back towards €1.13.
The pound pushed higher yesterday in risk off trade & after industry data showed that employers were willing to pay more to retain or attract talent.
This comes ahead of UK jobs data which is expected to show that UK unemployment held steady at 3.7%. Uk wages excluding bonuses are set to rise 6.5% up from 6.4%.
The euro fell yesterday after the European commission upwardly revised growth forecasts to 0.9% this year but downwardly revised inflation forecasts to 5.6% this year down from 6.1%.
Today attention is on the eurozone GDP release which is expected to show that the economy avoided a contraction in Q4 last year, with growth of 0.1%.