The British Pound proved remarkably resilient after UK inflation figures undershot expectations, putting the Bank of England on course to cut interest rates in the summer.
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Pound Sterling is "stretched" and at risk of a pullback heading into the Bank of England's Thursday policy decision.
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The UK economy returned to growth in January, according to monthly GDP data, which can help the British Pound stabilise from its recent slide against the Euro and Dollar.
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UK wage and employment data undershot market expectations, boosting the odds of a June rate cut at the Bank of England and resulting in a broadly weaker British Pound.
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The British Pound was softer on the day a much-watched survey of the UK job market confirmed an ongoing trend of cooling wage increases just a day ahead of the official ONS wage data release.
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The Pound to Euro exchange rate extended gains to 1.1727 after members of the European Central Bank's Governing Council (GC) raised the prospect of an April rate cut.
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The British Pound has come off its pre-budget highs against the Euro and Dollar as Chancellor Jeremy Hunt rolls out the Spring Budget, which won't bother the Bank of England.
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