The pound euro (GBP/EUR) exchange rate is edging a few points lower after 3 days of very small gains.
The pound is slipping after UK grocery inflation cooled to 5% in the 4 weeks to August 10, down from 5.2%. This is still sticky.
The data comes ahead of official inflation data tomorrow, which is expected to show that CPI was at 3.7% YoY in July, well above the BoE’s 2% target rate.
The EUR is slightly higher after a successful Trump-Zelenskiy meeting, which could open the door to a tri-lateral meeting with Russia in the coming weeks.
Eurozone PMI data is due on Thursday.