The Pound Euro (GBP/EUR) exchange rate rises for the fifth day and pushes towards €1.1850.
The pound rose firmly in the previous session after strong jobs data. Unemployment fell to a 48-year low of 3.7% and wages including bonuses rose 7% fueling bets of a more hawkish BoE.
UK inflation data is expected to show a rise in consumer prices to 9.1% YoY
The euro came under pressure despite an upward revision to Q1 GDP to 0.3%, up from 0.2%.
ECB’s Klaas Knot said he would consider a 50 basis point rate hike if the data warrants it.
Eurozone inflation is expected to confirm the 7.5% preliminary reading.
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