The Pound Euro (GBP/EUR) exchange rate is extending gains for a third straight session on Friday, although is due to end the week at the same level it started.
The Pound was supported on Thursday by data revealing that activity in the UK service sector expanded at the fastest pace in 24 years at 62.9 on the index. This was up from 61 in April.
The Euro has come under pressure owing to the stronger US Dollar, even though Eurozone PMI data was encouraging.
Attention will now turn to Eurozone retail sales data. Analysts expect retail sales to decline -1.2% month on month in April, after jumping 2.5% in March.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
