The pound euro (GBP/EUR) exchange rate is falling after 5 weeks of gains.
The pound is under pressure ahead of inflation data and the Bank of England rate decision later this week.
The UK CPI is expected to cool to 2% YoY in May, down from 2.3% in April. However, the BoE is not expected to cut rates, although it could prepare the market for an April cut.
The euro is rising after steep losses last week, but political uncertainty could continue to limit the upside.
The euro is finding some support from Eurozone Q1 wage growth that was stronger than expected at 5.1%
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