GBP/EUR: Will UK Inflation Data Pull Pound Lower?

The Pound Euro (GBP/EUR) exchange rate is ticking lower on Thursday.

The Pound remains depressed amid ongoing Brexit woes. The EU rejected the UK’s demand to renegotiate the Northern Ireland protocol.

There is no high impacting data due from the UK.

All eyes will be on the ECB’s monetary policy announcement. The ECB will make the announcement as inflation in the bloc reached an almost decade high at 3% in July.

Whilst the hawks have been on the newswire last week there are still plenty of doves in the governing council. The vote is expected to be a tight one.