Spain joins France with lower CPI- EUR/GBP slips

The impact of the lower French CPI data has now been followed by something similar just released out of Spain. Inflation data just released there was well below consensus too. The EUR/USD remains under pressure still following this release. That has also pushed the EUR/GBP lower right now and so the Pound is approaching its best levels of the year once again versus the Euro. The EUR/GBP is now falling towards 0.8320 and the reason is simple. The outlook for the ECB to cut again, as endorsed by this CPI data is eclipsing the outlook for the BOE to resist such a move and that is underpinning the Pound again. The EUR/JPY is still getting hammered as I write too.