The Pound euro (GBP/EUR) exchange rate is falling on Friday and is set for weekly declines.
The pound was steady yesterday after UK GDP data confirmed 0.8% growth in Q1, in line with forecasts.
Today UK manufacturing PMI data showed that growth slowed to 52.8 in June, down from 54.6.
The euro is rising following the release of inflation data. Consumer prices in the region rose 8.6% YoY, as fresh record high. This was up from 8.1% in May and ahead of the 8.3% forecast.
The data will piles pressure on the ECB to raise interest rates at a faster clip to tame inflation.
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.
