The pound euro (GBP/EUR) exchange rate is falling after three days of gains.
The EUR is rising despite German inflation cooling to 1.8% YoY, under the ECB’s 2% target for the first time in 10 months.
The data suggests the ECB has brought inflation under control. The ECB left rates unchanged at 2% in the most recent meeting.
The pound is falling amid concerns over the outlook for the UK economy.
British retailers will likely continue hiking prices in response to the government’s increase in employers’ national insurance contributions and the minimum wage.
The BoE is expected to cut rates next week, although a three way vote could be on the cards.
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