The pound euro (GBP/EUR) exchange rate is rising for a fifth day.
The pound rose after BoE’s Deputy Governor Ben Broadbent said that it depends on how sticky wage growth is and whether businesses pass on the higher wage growth to consumers.
His comments come ahead of the UK inflation report on Wednesday.
The euro is under pressure as the market questions whether the ECB will cut rates again after June. ECB’s Isabel Schnabel said she was uncertain as to the path for interest rates after June.
The economic calendar is quiet today. Attention will turn to tomorrow’s German PPI.
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