UK inflation<\/a> fell by more than expected to 7.9% YoY in June, down from 8.2% in May. Core inflation and services inflation cooled taking some pressure off the BoE to continue hiking rates aggressively.<\/p>\nThe market is now expecting a peak BoE rate of 6%, down from prior to the data.<\/p>\n
The euro is looking ahead to Eurozone inflation data which is expected to confirm the preliminary 5.5% YoY reading, down from 6.1%.<\/p>\n
The ECB is set to hike rates in July and possibly again in September.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound euro (GBP\/EUR) exchange rate is falling for a fourth straight day, dropping below \u20ac1.1550 to a 6 week low. The pound is tumbling after UK inflation fell by more than expected to 7.9% YoY in June, down from 8.2% in May. Core inflation and services inflation cooled taking some pressure off the BoE […]<\/p>\n","protected":false},"author":163946598,"featured_media":4988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-114777","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"\n
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