The pound-euro (GBP/EUR) exchange rate is falling today but rising throughout the week, marking the second straight weekly rise.
The pound is under pressure today despite UK retail sales rising 0.4% MoM in March, after 0.7% growth in February.
However, UK consumer confidence fell to its lowest level since 2023 in April, pointing to potentially weak consumption ahead.
The EUR is drifting higher amid a quiet day for data. ECB President Christine Lagarde said there was no prescribed path for rates amid the uncertain outlook.
Eurozone inflation will be released next week and is expected to cool towards the 2% target.