The pound euro (GBP/EUR) exchange rate is falling for a third straight day, heading towards €1.17.
The euro is rising despite German PPI dropping -6% YoY in July, the largest fall since the financial crisis 16 years ago.
The drop in PPI points to cooler inflation but also raises concerns over weak demand in the eurozone’s largest economy.
Eurozone’s current account data is due today.
The pound drifted lower amid a lack of fresh fundamental drivers yesterday. Today, attention turns to UK public sector net debt which is expected to fall to £17.03 billion in July.
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