The pound euro (GBP/EUR) exchange rate is falling for a third straight day and is set to fall across the week.

The pound traded lower after the BoE surprised the market and left interest rates on hold at 5.25% after UK inflation unexpectedly fell in August.

UK PMI data is due and is set to show that the services PMI fell to 49.2 and manufacturing held steady at 43.

The euro is rising against the pound but weakens against the USD amid concerns over a gloomy outlook.

Eurozone PMI data is set to show that service sector activity contracted at a faster pace of 47.2 and manufacturing improved slightly to 44 from 43.5.