The pound euro (GBP/EUR) is falling for a second straight day.
The pound is under pressure after UK CPI data yesterday which showed that prices cooled by more than expected. The market is increasingly convinced that the BoE’s next move will be a rate cut.
There is no high-impacting UK economic data today, UK retail sales are in focus tomorrow.
The euro is rising ahead of a speech by ECB President Christine Lagarde. Her speech comes after the European Commission downwardly revised growth forecasts for this year and next year.
There is high impacting eurozone data due today. Instead, attention will be on Eurozone inflation data tomorrow.