The pound euro (GBP/EUR) exchange rate is edging lower after 5-day of gains.
The euro is edging higher despite eurozone consumer confidence falling to a four-month low. In April, confidence dropped to -16.7, down from -14.5 in March. Meanwhile, economic confidence was also lower, at 93.6 versus 94.5.
The data comes as concerns over Trump’s trade tariffs rise.
The pound is falling despite UK grocery inflation rising to an 11-month high. Inflation rose to 3.8% in April, adding pressure on consumers and up from 3.5 % in March.
The BoE is expected to cut rates in the May meeting.