The Pound–Euro (GBP/EUR) exchange rate is slightly lower on Tuesday after rising in the previous session.
The pound is struggling to push higher amid signs of cautious UK consumer spending. Barclays data showed the sharpest slowdown in spending in December in nearly five years.
Weak retail sales growth and concerns over taxes, inflation, and a softer labour market have weighed on sentiment, with focus now turning to UK GDP data.
The euro is largely unchanged amid a quiet economic calendar. Geopolitical tensions surrounding the US interest in Greenland remain in focus but have not yet significantly impacted the EUR.