The pound-euro exchange rate (GBP/EUR) has been holding steady for a second straight day.
Pound investors are weighing up cooler grocery inflation, which has fallen to 4.5%, down from 5.3%.
Meanwhile, BoE policymaker Catherine Mann warned that she believes that the market is pricing in too many rate cuts this year.
The euro is holding steady after German consumer confidence ticked higher to 27.4 up from 28.8. The modest improvement comes as wage growth expectations rise, but willingness to spend falls.
ECB chief economist Philip Lane is due to speak again later. Yesterday he acknowledged slowing wage growth which paves the way for a rate cut.
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