The pound-euro (GBP/EUR) exchange rate is falling for a fourth straight session.
The EUR is rising ahead of the ECB rate decision at 13:15 GMT. The central bank is expected cut rates by 25 bps to 2.5%.
The market will be keen to see what happens next. The ECB could pause given the rising uncertainty over the outlook, including a looming trade war and an expected jump in German government spending.
The pound is falling after UK construction PMI fell to its lowest level since the pandemic, dropping to 44.6 Weak consumer confidence and a deteriorating macro backdrop saw new orders plummet.