The pound euro (GBP/EUR) exchange rate closed lower on Friday below €1.1750.
The euro gained after eurozone inflation rose by more than expected to 2.6% YoY, up from 2.4%. Economists forecast a rise to 2.5%.
The data comes after record unemployment and stronger negotiated wages which raises questions over whether the ECB will keep cutting rates after June.
The pound drifted lower amid a quiet economic calendar. There calendar has been quiet across the week.
Attention is on the UK elections which will be held on July 4th. Labour is widely expected to win the election. The pound appears comfortable with this given that the policies are not radically different.
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