The pound euro (GBP/EUR) exchange rate is falling towards €1.1650 and is set to drop 0.25% across the week after gains last week.
The pound fell after retail sales stalled at 0% MoM in March after rising -0.1% in February. The weak sales highlight the squeeze that households are still under.
The data came after inflation cooled by less than expected in March to 3.2%.
The euro is rising after German wholesale inflation cooled by less than expected at -2.8% YoY.
The data comes after consumer inflation cooled to 2.4% YoY in March as it trends towards the ECB’s 2% target.
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