The pound euro (GBP/EUR) exchange rate is rising for a second straight session.

The pound is pushing higher after stronger than expected retail sales. Sales jumped 1.2% MoM in February, up from an upwardly revised 0.9% in January. The data comes after the BoE hiked rates by 0.25% yesterday and may need to hike further.

UK PMI data is up next and is expected to ease to 52.9 from 53.1.

The euro fell yesterday after consumer confidence dropped to -19.2 from -19.1. Expectations had been for a rise.

Attention now shifts to the eurozone PMI data which is expected to show growth slowed to 51.9 from 52.