The pound euro (GBP/EUR) exchange rate is falling after 5 consecutive days of gains.
The pound is dropping after weaker than expected retail sales data. Sales dropped -1.2% MoM in July, down from -0.5% in June and below expectations of -0.6%.
Weaker sales come as households remain under pressure as inflation remains high and interest rates at the highest level in 15 years.
The euro is rising as attention turns to Eurozone inflation data which is expected to confirm that consumer prices cooled to 5.3% year on year in July, down from 5.5% in June.
ECB Chief economist Philip Lane is also due to speak. Investors will be watching for clues on whether the ECB could hike rates again in September.
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