The pound euro (GBP/EUR) exchange rate is falling after gains last week.
The pound is under pressure after a downward revision to Q2 GDP to 0.5% QoQ from 0.6%. The BoE forecasts growth of just 0.3% this quarter.
Slowing growth will be a blow to PM Kier Starner, who was counting on growth to deliver improvements to public services.
The euro is rising despite weaker-than-expected German inflation data. German CPI eased to 1.6% YoY from 1.9% YoY.
The data came after cooler French and Spanish inflation last week and ahead of the Eurozone data tomorrow.
Coolwr inflation supports the view the ECB will cut rates again in October.
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