The pound euro (GBP/EUR) exchange rate falls for a fourth day, dropping to €1.17.
The euro rose yesterday after hawkish comments from ECB policymakers, lifting expectations of a 75 basis point rate hike, rather than a 50 basis point hike in September.
News that Germany has reached is gas storage gars early is also boosting the market mood bringing gas prices lower.
German inflation is expected to rise to 8.8% YoY and eurozone consumer sentiment is set to improve.
The pound trades lower amid rising recession fears after the Ofgem energy cap price increase which is expected to hit household incomes hard.
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