The pound euro (GBP/EUR) exchange rate is falling, wiping out earlier gains and more.
The pound initially rose after stronger-than-expected UK retail sales, which rose 1% Month over Month in February, defying expectations of a -0.4 % fall.
UK Q4 GDP was 0.1%, putting growth across 2024 at 1.1%, up from the 0.9% previously expected.
However, the market mood turned after US inflation data, driving risk-off moves and pulling GBP lower.
The EUR is rising as it benefits from the selling of USD and US stocks. Jitters are building ahead of April 2 trade tariff announcements.
German consumer confidence heads higher for April, rising to -24.5 amid political stability following the elections.
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