The pound-euro exchange rate is treading water around €1.1325 for a second day.
The pound rose modestly yesterday after UK jobs data showed that while unemployment rose, wage growth was also stronger than expected at 5.9%.
Today UK inflation data is in focus and is expected to show that CPI cooled to 9.8% YoY, down from 10.4% in February.
The euro fell yesterday as German ZEW economic sentiment surprise, falling to 4.1 from 13.5. Expectations had been for a rise to 15.
Eurozone CPI is expected to confirm the initial 6.9% preliminary reading and core CPI is set to rise to 5.7%.
Hot inflation data would support the recent hawkish commentary from the ECB officials.
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