The pound euro (GBP/EUR) exchange rate is holding steady for a second day.
The euro is unchanged despite rising inflation. CPI accelerated to 2.4% YoY in December, up from 2.2%. Core CPI rose to 2.8% YoY up from 2.7% and ahead of forecasts.
The euro is also supported amid doubts over Trump’s potential trade tariffs. A report in the Wahington Post claimed the Trump administration would apply less aggressive tariffs. Trump later denied this.
The pound is supported despite mixed retail sales data from the British Retail Association (BRC). December sales rose 3.2% annually, but Q4 sales rose just 0.4%, which resulted in a fall in sales volume when higher prices are accounted for.
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