GBP/EUR: Brexit Nerves Weigh On Pound

The Pound Euro (GBP/EUR) exchange rate is falling for a fifth straight session.

The pound is coming under pressure after BoE Governor Andrew Bailey warned about an economic slowdown caused by the inflation shock.

UK consumer confidence tumbled to its second lowest reading on record which is likely to start showing through in retail sales. Sales are expected to decline -0.3%.

UK PMI data is expected to remain resilient.

The euro has found support from hawkish ECB comments. Several policy makers have hinted towards a July rate hike.

Eurozone PMI data is expected to show a slight slowdown.