EUR/GBP Remains Below 0.8600 Ahead of Eurozone Inflation Data and BoE's Bailey Speech

EUR/GBP Edges Lower Ahead of Key Eurozone and BoE Events

EUR/GBP softened near 0.8575 during Tuesday’s early European session, pressured by disappointing German inflation figures.

Preliminary data from Germany’s statistical office revealed that the Harmonized Index of Consumer Prices (HICP) inflation slowed to 2.0% year-on-year in June, down from 2.1% previously, and below the expected 2.2%.

Month-on-month, German HICP rose just 0.1% in June, versus 0.2% in May and below forecasts of 0.3%.

These softer inflation readings weigh on the Euro, adding to the cautious tone ahead of the Eurozone’s preliminary HICP inflation data release and the Bank of England Governor Andrew Bailey’s speech later today.

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