The Euro remains under pressure against the Pound, trading near session lows despite stronger-than-expected German retail sales data.
The EUR/GBP pair fell to 0.8605 in early European trading, extending losses despite a positive surprise in German retail sales. The cross remains in negative territory as the Euro struggles to gain traction against the British Pound.
German retail sales data released earlier showed a stronger-than-expected rebound, but the print failed to lift the Euro. Market focus remains on broader economic trends and monetary policy expectations in the Eurozone and the UK.
Traders are assessing the divergence between the European Central Bank and the Bank of England’s policy outlooks, which may continue to weigh on the Euro.