The pound euro (GBP/EUR) exchange rate is rising modestly after losses yesterday.
The euro is falling despite hotter-than-expected German inflation, which came in at 2.8% YoY in May, up from 2.4%. The data was ahead of forecasts of 2.7%.
The ECB is still likely to cut interest rates in June. However, the future path for rate cuts is less clear.
Eurozone inflation data is due on Friday.
The pound is inching higher in quiet trade amid a lack of fresh catalysts. The UK economic calendar is quiet, and no BoE officials are speaking.
UK political parties continue to lay out their policies for the election on July 4th.
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