The pound euro (GBP/EUR) exchange rate is falling after two days of gains.
The pound is falling after the UK’s GDP stalled for a second month at 0%, below forecasts of 0.2%. The economy has stagnated in three of the past four months.
The data will be a blow for Labour, which was counting on stronger growth to mend public finances.
The euro is rising but gains could be limited ahead of the ECB rate decision tomorrow. The ECB is expected to cut rates by 25 basis points.
German inflation cooled to 1.9% YoY, making it easier for the ECB to cut rates.
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