The Euro could be at risk judging by the rise in overnight implied volatility measures ahead of Eurozone PMI data slated for release during early Thursday trade.
The Euro is coming under heavy selling pressure following the latest remarks from the ECB's Rehn hinted at the need for an aggressive monetary stimulus package as soon as next month.
Industry experts have warned that a no-deal Brexit would be damaging for both UK and EU industries and neither are prepared to counteract the disruption. GBPUSD eyeing 28-month lows.
Sterling (GBP) continued its sell off pressure on Tuesday as UK jobs data provided a mixed sentiment, pushing GBPUSD and GBPEUR to year-lows.
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The Pound was marginally stronger against all currency pairs despite UK Manufacturing PMI data coming in much worse than expected. Brexit stockpiling wind down was expected.
The initial May Eurozone inflation report us due on Tuesday, June 4 at 09:00 GMT.
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Sterling failed to gain some ground as both EURGBP and GBPUSD were trading flat after UK GDP figures were in line with expectations.
The latest Brexit developments are in control of the British Pound, leaving the Bank of England sidelined.