The pound has received support from strong UK jobs data this morning.
Unemployment in the UK fell to its lowest level since 1974 in February and wages also rose.
Nonetheless, wages are still not rising at the same pace as the cost of living, and many households and businesses continue to feel the pressure.
The euro is still seeing some strength against the pound from the results of the French presidential elections but is weaker against the dollar. Markets will now be looking at German economic sentiment figures to gauge how the economy is faring.
The main data release for today, however, will be US inflation. Last week, the Federal Reserve suggested it could tighten monetary policy more quickly than expected. Any surprises with inflation could impact this decision and the dollar.
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