After steep falls yesterday, the pound euro (GBP/EUR) exchange rate is rebounding higher back above €1.14.

The pound is rising today although the outlook for the economy remains gloomy. This is expected to be reflected in tomorrow’s GDP figure.

BoE speakers have been in focus and Silvana Tenreyo is due to speak later.

The euro is edging lower. Italian industrial production fell by more than expected in September by -1.8% MoM.

With no more eurozone data due to be released today, attention is turning to German inflation data tomorrow which is forecast to rise to 10.4% in October.