The Pound Euro (GBP/EUR) exchange rate is edging northwards, holding above €1.10 after closing on the back foot in the previous session.
The Pound shrugged on encouraging service sector PMI data which indicates that the dominant sector on the economy recovered more quickly than anticipated in September. Attention will turn to Friday’s GDP treading for further clues on the economic recovery. Expectations are for the data to show that output was just 7% below where it was the same time last year.
Brexit talks remain in focus.
The Euro pushed higher boosted by strong data and surging retail sales. Retail sales soared 4.4% month on month in August, after declining -1.3% in July.
Attention will turn to German factory orders and ECB President Christine Lagarde.