The pound euro (GBP/EUR) exchange rate is falling for a second day
Sterling edged lower ahead of the Bank of England decision, where rates are expected to remain at 3.75% despite inflation rising to 3.3%.
Governor Andrew Bailey has signalled a cautious, wait-and-see approach, citing easing core inflation and a softer labour market.
Attention then turns to the European Central Bank, which is also set to hold rates. Softer inflation data from Germany and Spain supports a pause, though Christine Lagarde may hint at a possible June rate hike.
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