The euro fell against the pound and the US dollar this morning after Germany released GDP figures which showed that the recession in the eurozone's largest economy is much deeper than expected.
The German first quarter GDP data, released at 7.00 BST this morning, showed a contraction of 3.8% quarter on quarter, compared with a forecast contraction of 3.0%.
Investors will now look to eurozone GDP data due at 10.00 BST today, and the euro may fall sharply if these figures mirror the German data.
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