gbp-euro-coins - GBP/EUR

The pound euro (GBP/EUR) exchange rate is falling, paring gains from yesterday.

The euro is on the rise ahead of inflation data. CPI is expected to cool slightly to 10.4% YoY, down from 10.6%.

The data could pave the way for a downshift in rate hikes from the ECB in December.

German and Spanish inflation slowed in November.

The pound is trading quietly with few catalysts today. BoE Governor Andrew Bailey said yesterday that the UK Gilt market was still suffering from recent turbulence.