GBP/EUR: Pound Eases As Parliament Prepares To Vote On Brexit

The Pound Euro (GBP/EUR) exchange rate is holding steady after small gains yesterday.

The Euro fell, yesterday after the EU banned almost all Russian oil imports. This sent oil prices higher and will mean that inflation is likely to rise further.

Eurozone inflation rose to 8.1% YoY, up from 7.4% in April.

Data will remain in focus with German retail sales, Eurozone unemployment and Eurozone manufacturing PMIs due.

The Pound traded broadly weaker versus major pairs amid ongoing concerns over the health of the UK economy after credit card borrowing jumped to the highest level in 17 years.

UK manufacturing PMI data is due to confirm the preliminary reading of 54.6.