The Euro remains range-bound against the Pound as weak UK GDP data and BoE policy expectations limit Sterling gains.
The Euro traded marginally higher against the British Pound on Friday, stabilizing near 0.8550 after recovering from three-week lows. The EUR/GBP pair is set for a 0.2% weekly loss, reflecting subdued momentum amid mixed economic signals.
German wholesale prices rose 0.2% month-on-month in July, missing forecasts of a 0.4% increase, while the annual rate accelerated to 5.3%. UK GDP growth slowed in Q2 as expected, but June industrial production contracted unexpectedly, weighing on the Pound.
Analysts suggest the Bank of England’s cautious stance on interest rates may cap Sterling rallies, with fiscal concerns ahead of the October budget adding further pressure.