The pound euro (GBP/EUR) exchange rate is just a few points lower on Tuesday, paring earlier losses.
The pound is modestly lower amid concerns over the outlook for the economy after warnings from BoE Governor Andrew Bailey over the weekend about growth and inflation.
The BRC reported that shop prices rose by 0.9% compared with August 2024, driven by a 4.2% in food prices, the largest since February last year.
The EUR is rising as investors shrug off French political concerns. The French minority government could collapse next month in a vote of no confidence over PM Bayrou’s plans to cut spending.
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