Euro Extends Rally Against British Pound Despite Strong UK Retail Sales Data
The EUR/GBP pair jumped to near 0.8550, reaching its highest level in two weeks, even as UK Retail Sales data for June came in stronger than expected.
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The euro continued to strengthen against the British pound on Friday, with the EUR/GBP pair rising to approximately 0.8550 during European trading. This marks the highest level for the pair in two weeks.
The move came despite the release of upbeat UK Retail Sales figures for June, which typically would provide support for sterling. The data did not prevent the pound from weakening against the euro, suggesting ongoing divergence in market sentiment or expectations for monetary policy between the eurozone and the UK.
Source: FXStreet Forex News