The pound euro exchange rate (GBP/EUR) is falling, extending last week’s losses.
The euro is edging higher after Eurozone inflation eased to 2.6% YoY in February, in line with the preliminary reading. The data comes after the ECB left interest rates on hold at 4% in the last meeting.
The pound is falling ahead of a busy week with UK CPI and the BoE interest rate decision in focus.
UK CPI is forecast to cool to 3.6% from 4%. However, this is still well above the BoE’s 2% target.
No change to policy is expected at the MPC meeting on Thursday.
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