The Pound Euro (GBP/EUR) exchange rate is treading water after gains in the previous session.
The Pound rose in the previous session amid an encouraging outlook from the BoE. The UK central bank removed pandemic curbs on dividend payments after saying that the economic outlook had improved.
UK inflation data will be in focus today. Expectations are for CPI to rise 0.2% MoM, down from 0.6%. However, annually, CPI is expected to rise to 2.2%, up from 2.1%. A stronger reading could lift Sterling.
The Euro traded lower owing to the softer tone surrounding the US Dollar after US inflation surged.
Attention will now turn to Eurozone industrial output which is expected to decline -0.2% MoM in May after a solid rise in April.