The pound euro (GBP/EUR) exchange rate is inching higher after 2 days of losses.
The pound fell after independent forecasters projected that UK inflation could fall much more quickly than previously expected, possibly hitting 2% by April this year.
Attention now turns to UK GDP data tomorrow, which could fuel recession fears, pulling GBP lower.
The euro lost ground despite the ECB economic bulletin supporting the ECB’s stance that rates need to stay high for longer to tame inflation.
There is no high-impacting eurozone economic data due on Friday. ECB chief economist Phile Lane is due to speak.
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