The pound euro (GBP/EUR) exchange rate is pushing higher after losses yesterday.
The pound is rising after UK GDP data was better than expected at -0.1% MoM in May, up from -0.2% in April and ahead of forecasts of -0.3%.
The data comes after data earlier in the week showed record wage growth at 7.3%, fueling bets of a more hawkish BoE.
The euro rose yesterday thanks to a weaker USD after inflation cooled by more than expected.
Today’s attention is on the minutes from the June ECB meeting. Will the minutes provide clues about when the ECB might end its rate hiking cycle?
The European Commission will also release its revised growth forecasts.