The pound euro (GBP/EUR) exchange rate is edging lower snapping a three day winning run.
The pound drifted lower on the first day of the week amid a lack of fresh drivers. Attention will now turn to UK PMI data. The services sector PMI is expected to remain strong at 55.5 in May from 55.9 in April. Strong data will help boost the outlook.
The euro rose yesterday after consumer confidence improved for a second straight month.
Eurozone PMI data is expected to influence the common currency. Expectations are for the composite PMI to ease slightly to 53.7 from 54.1.
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