The pound -euro exchange rate is holding steady at €1.20, recovering from earlier losses.
The pound fell in early trade after BoE policymaker Catherine Mann said she saw inflation returning to the 2% target level next year owing to weak demand.
Mann’s comments explain why she went from being the most hawkish to the most dovish BoE policymaker.
The EUR is unchanged after European Commission President Ursula von der Leyen warned of retaliation to US trade tariffs on aluminum. 15% of US aluminium imports come from Europe.
ECB President Christine Lagarde warned of an uncertain inflation outlook if trade frictions rise.
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