eur-bank-notes-magnifying-glass - EUR

The pound euro (GBP/EUR) exchange rate is heading lower for a 4th day, dropping to a 3-week low.

The euro is rising after more hawkish commentary from ECB policymaker Pierre Wunsch, who said that the central bank needs to hike rates further.

Spanish and French inflation data is due and German wholesale inflation is expected to fall again to 6.2% YoY in March from 8.9%.

The pound is edging lower again after GDP data showed the economy stalled in February at 0% MoM. This was down from 0.4% in January.

There is no high impacting UK data. BoE’s Tenreyo will speak.