The pound euro (GBP/EUR) exchange rate is rising after yesterday’s losses.
The pound is gaining despite UK shop price inflation cooling to 6.9% its lowest level since October 2022. Food inflation fell to 11.5%.
The data comes after BoE’s Broadbent warned that interest rates could remain high for a long period of time.
The euro falls after German consumer confidence unexpectedly fell to -25.5 in September as high inflation squeeze household budgets.
German inflation data is due to be released to morrow and is expected to ease to 6% YoY from 6.2%.
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