The pound-euro (GBP/EUR) exchange rate is holding steady after yesterday’s steep losses. The pair is still set to gain throughout the week.
The pound is unchanged after data showed that UK retail sales rose 0.2% MoM in November after falling -0.7% in October. However this was below the 0.5% rebound that was expected.
The data comes as the BoE forecast 0% growth in Q4, down from 0.3% previously expected.
The euro has fallen across the week as the central bank is still expected to cut rates more aggressively than the BoE in 2025.
Trump also warned over trade tariffs if Europe doesn’t buy more oil and gas from the US.
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