The pound euro (GBP/EUR) exchange rate is holding steady after losses yesterday.

The euro was supported by hawkish ECB commentary after several ECB policymakers reiterated the need raise interest rates in the coming meetings.

There is no high impacting Eurozone economic data today.

The pound has struggled in recent sessions amid rising fears that the BoE could hike the UK into recession.

A survey showed that CFOs are turning increasingly cautious in the outlook for the UK.

UK inflation data tomorrow will be key for setting the tone for the pound for the coming weeks.