The pound euro exchange rate (GBP/EUR) is holding steady at €1.1825.
The pound is unmoved despite UK grocery inflation easing to 2.1% in the 4 weeks to June 9, down from 2.4% a sign that inflation is moving in the right direction.
The data comes ahead of UK CPI inflation data tomorrow, which is expected to cool to 2% YoY in May from 2.3%.
The euro is unchanged after German ZEW economic sentiment improved less than expected, rising to 47.5, up from 47.1, but missing forecasts of 50. A rebound in inflation could be to blame.
Eurozone inflation rose 2.6% YoY in May up from 2.4% in April.
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