The pound euro (GBP/EUR) exchange rate is rising after yesterday’s losses.
The pound is rising against the euro but weakening versus the US dollar after data showed UK consumers prioritised festive food spending while remaining cautious on clothing and gifts.
Solid December food sales offered some relief for retailers, though fragile confidence, stubborn inflation, and rising unemployment mean the outlook for 2026 is cautious.
The euro is under pressure after mixed eurozone data. Unemployment ticked lower to 6.3%, but consumer and business sentiment also remained weak.
Economic sentiment fell to 96.7 in December, down from 97.1.
Consumer confidence improved modestly but remained depressed by historic standards at -13.1, up from -14.6.
Eurozone retail sales data due tomorrow.
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