The Pound Euro (GBP/EUR) exchange rate is holding steady on Wednesday after booking slight losses in the previous session.
The Pound edged lower despite data revealing that the recovery in the UK labour market continued in June. The rate of unemployment unexpectedly ticked lower to 4.7%, down from 4.8%, whilst vacancies hit a record high.
Today all eyes will be on inflation data from both the UK and the Eurozone. CPI for the UK is expected to cool to 2.3% in July, down from 2.5% in June. Meanwhile the CPI for the Eurozone is expected to tick higher to 2.2% YoY up from 1.9%.