{"id":114354,"date":"2023-05-03T07:00:28","date_gmt":"2023-05-03T06:00:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=114354"},"modified":"2023-05-05T11:24:56","modified_gmt":"2023-05-05T10:24:56","slug":"107547-gbp-eur-pair-rises-after-a-busy-session-yestersay","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\/","title":{"rendered":"GBP\/EUR: Pair rises after a busy session yesterday"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) has struggled this week amid a quiet calendar<\/strong><\/li>\n<li><strong>BRC food inflation rose to a record high<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rose as inflation rose to 7%<\/strong><\/li>\n<li><strong>German retail sales fell sharply<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising, snapping a two-day losing streak. The pair fell -0.48% in the previous session, settling on Wednesday at \u20ac1.1327, after trading in a range between \u20ac1.1329 &#8211; \u20ac1.1391. At 05:45 UTC, GBP\/EUR trades +0.04% at \u20ac1.1331.<\/p>\n<p>The euro rose in the previous session after mixed inflation data and despite weaker-than-expected German retail sales caught.<\/p>\n<p>Sales in the eurozone&#8217;s largest economy unexpectedly tumbled 2.4% month on month in March, after falling 1.3% in February and despite expectations of a 0.4% rise in sales. The data shows that consumer spending remained under pressure at the end of the first quarter, which is consistent with GDP data which pointed to zero growth in the first three months of the year.<\/p>\n<p>Eurozone inflation was mixed, with headline inflation rising to 7% year on year in April, up from 6.9%. Meanwhile, core inflation which strips out no volatile measures such as food and fuel cooled to 5.6% year on year, down from 5.7% in March.<\/p>\n<p>The data comes ahead of the European Central Bank decision on Thursday, where the central bank will debate a 25 basis points or a 50 basis point rate hike. The data supports the view that the ECB needs to keep hiking rates to tame inflation.<\/p>\n<p>The pound fell in the previous session as the market mood soured and as UK retailers reported a record rise in food prices over the past 12 months.<\/p>\n<p>According to the British Retail Consortium food inflation rose to a record 15.7% year on year in April the biggest increase since a 15% rise in food prices back in March 2005. However, food prices are expected to start coming down in the coming months, made a cut to wholesale prices and as easing cost pressures filtered through.<\/p>\n<p>There is no high-impacting UK economic data due to be released today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) has struggled this week amid a quiet calendar BRC food inflation rose to a record high Euro (EUR) rose as inflation rose to 7% German retail sales fell sharply The Pound Euro (GBP\/EUR) exchange rate is rising, snapping a two-day losing streak. The pair fell -0.48% in the previous session, settling on Wednesday [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-114354","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pair rises after a busy session yesterday - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pair rises after a busy session yesterday\",\"datePublished\":\"2023-05-03T06:00:28+00:00\",\"dateModified\":\"2023-05-05T10:24:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\\\/\"},\"wordCount\":332,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100630-gbp-eur-brexit-lead-battle.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107547-gbp-eur-pair-rises-after-a-busy-session-yestersay\\\/\",\"name\":\"GBP\\\/EUR: Pair rises after a busy session yesterday - 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