Pound Euro Exchange Rate News: GBP/EUR Wavered as Eurozone Inflation Softened to 6.1%

STORY LINK Pound Euro Exchange Rate News: GBP/EUR Wavered as Eurozone Inflation Softened to 6.1%

Euro (EUR) Undermined by Slashed Rate Hike Bets

The Euro (EUR) experienced mixed success on Thursday morning in the wake of softer-than-expected inflation reading for May. The annual Harmonised Index of Consumer Prices (HICP) slipped to 6.1% in May, from 7% in April and below expectations of 6.3%.

The level reached the lowest rate since February 2022 but still far above the European Central Bank’s (ECB) target rate of 2-3%. Driven mainly by a 1.7% drop in energy prices, following a 2.4% increase in April. Furthermore,…
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