The pound euro (GBP/EUR) exchange rate is falling on Friday, but it is on track to gain this week.
The pound is slipping after data showed the UK economy stagnated in July, with GDP at 0%. This comes after GDP rose 0.4% MoM in June.
Given inflation is sticky at 3.8% the BoE is not expected to cut rates again next week, even though the growth outlook is deteriorating.
The EUR is rising after the ECB left rates unchanged yesterday at 2%, as expected.
Policymakers are divided over the potential impact on the economy of the EU-US trade deal.