The pound euro (GBP/EUR) exchange rate is rising for a second straight day and is set to rise across the week.
The pound is boosted by rising retail sales. Retail sales rose 0.5% MoM in July, after falling -0.9% MoM in June.
Sales have risen as inflation remains low, at 2.2%, close to the BoE’s 2% target and as wage growth remains strong.
The data supports ongoing economic growth in the UK
The euro is falling despite the euro area trade surplus increasing to €22.3 billion in June, up from €18 billion a year earlier.