The pound euro (GBP/EUR) exchange rate is falling below €1.15 as choppy trading continues.
The pound’s rise from yesterday’s inflation data was short-lived as investors mull over the potential negative impact of the economy of sticky inflation and high interest rates.
There is no high impacting UK economic data today.
The euro is rising after yesterday’s losses when data confirmed that inflation in the region had cooled in line with forecasts to 4.3% YoY from 5.2% in August.
The data supports the view that the ECB has concluded its rate hiking cycle, although the central bank will be watching oil prices and the potential inflationary impact from the Israel – Hamas conflict.
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