The pound ero (GBP/EUR) exchange rate fell for a second straight session on Friday and booked losses across last week – the third straight weekly decline.
The pound fell after UK retail sales unexpectedly slumped -0.3% MoM in December, defying expectations of a rise of 0.4% MoM. Retail sales were just 0.1% in November.
The data comes after soft GDP data earlier in the week of 0.1% growth after two months of contraction.
The euro rose, but gains could be limited given that the ECB is expected to continue cutting rates.
Eurozone inflation was 2.4% YoY in December, in line with November and as economists expected.
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