The pound euro (GBP/EUR) exchange rate is edging lower for a second day.

The pound is slipping ahead of a speech by BoE Governor Andrew Bailey ahead of the Treasury Select Committee. Any remarks around the inflation or interest outlook could influence GBP.

This comes ahead of UK GDP data on Friday, which is expected to show a 0.1% contraction.

The euro is rising as investors dial back ECB rate cut bets, particularly after eurozone unemployment fell to a record low at 6.4%.

There is no high impacting Eurozone data today. Attention will be on ECB policymaker Luis De Guindos, who will speak.