Weaker-than-expected UK retail sales data weigh on GBP, lifting the EUR/GBP cross to 0.8570 in early trading.
The EUR/GBP cross climbed to around 0.8570 during early European trading on Friday, extending gains after weaker UK retail sales data pressured the British Pound. The move reflects investor reaction to disappointing economic indicators from the UK.
Prior to the release, the pair had traded near 0.8550, with markets pricing in modest GBP resilience. However, the softer retail sales figures, a key gauge of consumer activity, undermined confidence in the currency.
No immediate market reaction beyond the currency pair’s movement was reported, though the data may influence expectations for Bank of England policy.