euro-bank-notes - EUR

The pound euro (GBP/EUR) exchange rate is rising, snapping a two day losing trend.

The euro is edging lower after gains yesterday. The euro was boosted by stronger than forecast German factory orders, which helped ease recession fears.

Today German retail sales are expected to rebound by 2% MoM in January, up from -5.3% in December. ECB’s Christine Lagarde is also due to speak.

The pound is recovering after remarks from BoE policymaker Catherine Mann, who warned that the pound could fall further if the Fed & ECB keep hiking rates.

There is no high impacting UK economic data due today.