The pound euro exchange rate is, edging higher for a third day, pushing towards €1.1350.

The pound rose yesterday after UK jobs data showed that UK unemployment remained low at 3.7% and wages rose to 6.7%, up from 6.5%, making the largest rise in wages since records started in 2001.

UK inflation data today is expected to show that inflation cooled to 10.3% YoY in January, down from 10.5% in December. Core inflation is set to fall to 6.2% from 6.3%.

The euro fell yesterday even after GDP data confirmed 0.1% growth, down from 0.3% in Q3 but still avoiding a contraction.

Today eurozone industrial production data is due to be released and is expected to show a -0.8% decline, after rising 1% in December.