The pound euro (GBP/EUR) exchange rate is falling for a second straight day.
The euro is pushing higher despite German wholesale inflation (PPI) slowing by more than expected. PPI cooled to -1.4% MoM in May down from 0.3% in April.
ECB policymakers are increasingly divided over the future path of rate hikes beyond July’s hike.
The pound is falling after data showed that food price inflation has eased to its slowest pace this year of 1.6% down from 17.2%.
The data comes ahead of tomorrow’s inflation print and Thursday’s BoE interest rate decision.
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