The pound euro (GBP/EUR) exchange rate is falling modestly lower for a second day.
The pound is falling after UK manufacturing activity contracted for a seventh month. Manufacturing PMI was 45.4 in April, as exports fell at the steepest rate in five years. This was up from 44.9 in March and ahead of forecasts of 44.
The BoE is expected to cut rates in May by 25 basis points.
The euro is rising despite no fresh macroeconomic data. Reports have surfaced that the EU is ready to offer Trump a €50 billion trade deal.
Tomorrow, Eurozone inflation data is expected to show CPI eased towards the target 2% level.
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