The Pound Euro (GBP/EUR) exchange rate is edging a few pips higher after a slightly softer start.
The Euro showed resilience in the previous session. Eurozone inflation rose to a 13 year high of 3.4%. However, ECB speakers were quick to talk down the prospect of a rate rise.
Today attention is on the release of Eurozone consumer confidence which is expected to slip to -5.
The Pound advanced in the previous session despite UK inflation (CPI) unexpectedly falling. UK CPI rose 3.1% YoY in September, down from 3.2% in August.
The slight easing in inflation is unlikely to deter the BoE from raising intertest rates by the end of the year.
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