The pound euro (GBP/EUR) exchange rate is falling on Friday and is set to book losses across the week.
The pound trades lower despite optimism surrounding new Brexit trade terms as PM Rishi Sunak travels to Northern Ireland.
UK retail sales were stronger than forecast at 0.5%, defying expectations of a -0.3% decline. However, the data failed to lift the pound.
The euro is rising after German PPI, wholesale inflation cooled by less than forecast to 17.8% YoY down from 21.6%.
ECB’s chief economist Philip Lane said yesterday that the impact of the large rate hikes was yet to be seen in the real economy.
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