The Pound Euro (GBP/EUR) exchange rate is heading lower at the start of the week.
The Pound failed to drive higher versus the Euro last week despite encouraging labour market data and despite UK inflation skyrocketing to 3.2% YoY in August. The date lifted the prospect of the BoE hiking interest rates sooner than initially anticipated.
That said an unexpected decline in retail sales and supply chain issues have raised concerns over the health of the economic recovery.
The BoE rate decision is due on Thursday.
The Euro showed resilience versus the Pound with final inflation for August confirmed at 3% YoY a decade high.
The Eurozone economic calendar this week is quiet with PMIs and the German elections next weekend in focus.
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.
