The pound euro exchange rate (GBP/EUR) is falling after a modest gain yesterday.
The euro is rising, boosted by stronger-than-expected retail sales, which rose 0.8% MoM in March, rebounding from -0.3% in February.
The data overshadowed German factory orders which unexpectedly fell -0.4% MoM, defying expectations of a 0.4% rise.
The pound fell despite the UK construction PMI rising to 1a 14-month high. The PMI rose to 53 in April, up from 50.3 in March.
The composite PMI released last week also indicated strong growth in business activity.
The BoE rate decision is on Thursday.
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