The pound euro (GBP/EUR) exchange rate is rising for a third day.
The EUR is falling after German CPI data confirmed that inflation remained unchanged at 2% YoY in July, a level last seen 8 months ago and the ECB’s target level.
The data comes as the ECB left rates unchanged in the most recent meeting and could push back the next rate cut until December to assess the impact of trade tariffs.
The pound is rising as investors continue to digest yesterday’s jobs data, which showed that the UK jobs market was holding up better than expected.