The pound euro (GBP/EUR) exchange rate is rising for a third day and is on track to rise across the week.
The pound is rising despite a quiet economic calendar. Next week, UK inflation data could decide whether the BoE cuts rates in June or September.
The euro falls after eurozone inflation confirmed the preliminary reading of 2.4% YoY in April, and core inflation cooled to 2.7% YoY from 2.9%. The data supports the view that the ECB will cut rates in June.
Attention next week will be on eurozone PMI data, which could provide clues over the economic recovery in the region.
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