The pound euro (GBP/EUR) exchange rate is holding steady after 5-days of gains.
The pound was supported yesterday by hawkish comments from BoE’s Catherine Mann who said that the central bank needs to stay aggressive in its fight against inflation.
UK retail sales growth slows to 2.8% from 4.3% according to the British Retail Consortium.
The euro has struggled in recent session amid concerns over the health of the German economy. Even so, ECB’s Lagarde remain confident that policy will bring inflation back to target levels.
The euro has shrugged off the news that the Eurozone economy’s GDP was downwardly revised by 0.2% to 0.7% in 2023.
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