GBP/EUR: Euro In Focus Ahead Of Barrage Of Data Releases

The pound euro (GBP/EUR) exchange rate is holding steady as investors digest the latest manufacturing PMI figures.

The euro manufacturing sector shrank at a slightly slower pace in August as the PMI rose to 43.5 up from 42.7 in July. News orders tumbled to the lowest level on record.

The data come after inflation data yesterday showed that inflation remained unchanged at 5.3% YoY in August.

The pound is holding steady despite manufacturing activity contracted further in August s the PMI dropped to 43 down from 45.3 in July.

Looking ahead, BoE’s chief economist Huw Pill is due to speak. Yesterday his hawkish comments boosted GBP.