The pound euro (GBP/EUR) exchange rate is pushing higher for a second day, brining €1.17 into target.
The pound rose on Tuesday after strong UK jobs data which saw unemployment tick lower to 3.8% and wage growth jump to 7.2%. The data piles pressure on the BoE to keep hiking rates.
Attention now turns to UK GDP data which is expected to show the economy rebounded in April rising 0.2% after contracting -0.3% MoM in March.
The euro fell yesterday after German inflation data cooled to 6.1% from 7.2% and after German ZEW economic sentiment remained negative for a fourth straight month.
Eurozone industrial production data today is in focus and is expected to rise 0.8% MoM after falling -4.1% in March.
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