GBP/EUR: Pound Tumbles As PM May Clings To Power

The Pound Euro (GBP/EUR) exchange rate is falling again on Friday after a steep selll off in the previous session.

The BoE hiked interest rates, as expected to 0.5%. 4 of the 9 policy makers, the minority,  had voted to raise rates to 0.75%.

The ECB, also as expected, kept monetary policy unchanged. However, in the following press conference, ECB President Christine Lagarde was much more hawkish. The central bank guided for a rate hike in Q4 this year, lifting the Euro.

Today Eurozone retail sales are expected to show a fall of -0.5% MoM.