Euro Struggles Against British Pound Amid Eurozone Inflation Miss

The Euro (EUR) has lost ground against the British Pound (GBP) on Tuesday, weighed down by softer inflationary pressures in the Eurozone and weak German Retail Sales figures.

Data from Eurostat showed that the Harmonized Index of Consumer Prices (HICP) grew at a steady 3.3% year-on-year pace in August, as expected, but core inflation slowed to 2.4%, below forecasts.

The UK's economic calendar is thin on Tuesday, with all eyes on Bank of England Governor Andrew Bailey's speech on Friday for confirmation of the market's expectations that interest rates will be hiked at its monetary policy meeting on September 16.