Euro hits one-year low vs pound despite strong German data

The euro continues to languish against the British pound, consolidating losses at one-year lows. This comes despite encouraging industrial production data from Germany released earlier on Tuesday, which failed to provide any meaningful support for the single currency.

The market's focus remains on monetary policy divergence between the European Central Bank and the Bank of England, with traders pricing in more aggressive rate cuts from the ECB relative to the BoE.