GBP/EUR: Brexit Hopes Keep Pound Elevated Above Euro

The Pound Euro (GBP/EUR) exchange rate is edging higher towards €1.19 at the end of a strong week.

The Pound is advancing after retail sales beats forecasts. Retail sales rose 0.8% MoM in October after a dismal performance over the past 6 months.

Expectations that the BoE will raise rates in December have lifted the Pound this week.

The Euro trades under pressure despite German wholesale inflation jumping to 18.2%, ahead of the 16.4% forecast.

The ECB continue to push back on the prosPect of a rate rise in 2022, which is hurting demand for the common currency.