gbp-british-pound-coins - GBP

The pound euro (GBP/EUR) exchange rate is falling, snapping a three-day rally.

The pound is falling after BRC data showed that British retailers experienced lackluster sales over the key Christmas period, raising concerns over a recession.

There is no major UK economic data due today.

The euro is rising despite German industrial production unexpectedly falling -0.7% MoM in November after falling -0.4% MoM in October.

The data comes after German retail sales fell 2.5% MoM in November, highlighting the struggles of households as interest rates remain at a record level.