The pound euro (GBP/EUR) exchange rate is edging lower for a second day.
The euro rose against the pound yesterday but tanked versus the USD, after eurozone manufacturing activity contracted sharply again in September, dropping to 43.4 from 43.5 in September.
Today attention turns to ECB chief economist Philip Lane who is due to speak and could shed more light on the future path of interest rates.
The pound is trading under pressure as the market mood sours and risk appetite wanes.
Yesterday UK manufacturing PMI showed a deep contraction in September at 44.3, with new orders and employment dropping.
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