{"id":118141,"date":"2024-08-15T18:59:50","date_gmt":"2024-08-15T17:59:50","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118141"},"modified":"2024-08-15T22:36:05","modified_gmt":"2024-08-15T21:36:05","slug":"gbp-eur-pound-rises-after-gdp-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/gbp-eur-pound-rises-after-gdp-data\/","title":{"rendered":"GBP\/EUR: Pound rises after GDP data"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is rising after losses yesterday<\/strong><\/li>\n<li><strong>UK GDP rose 0.6% in Q2<\/strong><\/li>\n<li><strong>Euro (EUR) falls in quiet holiday trade<\/strong><\/li>\n<li><strong>Risk sentiment favours the pound over the euro<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro <a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">(GBP\/EUR<\/a>) exchange rate is rising after losses yesterday. The pair fell 0.46% in the previous session, settling on Wednesday at \u20ac1.1647 and trading in a range between \u20ac1.1639 and \u20ac1.1704. At 17:00 UTC, GBP\/EUR trades +0.55% at \u20ac1.1713.<\/p>\n<p>The pound is pushing higher on Thursday following solid UK GDP data, which supported the view that the UK economy was recovering from weakness at the end of last year.<\/p>\n<p>According to the latest data from the Office for National Statistics, the UK economy grew 0.6% in the second quarter of this year, marking only a marginal slowdown from the strong growth in the previous three months (0.7%) and in line with economists&#8217; expectations.<\/p>\n<p>Monthly GDP growth was 0% in June after 0.4% growth in May\u2014the figure was also in line with economists&#8217; forecasts.<\/p>\n<p>The data suggests that growth remains on course and is building on a strong quarter first quarter performance.<\/p>\n<p>The news will be well received by the New Labour government, as Prime Minister Keir Starmer has placed grace at the center of his economic agenda.<\/p>\n<p>The data came after UK inflation data yesterday showed that inflation rose by less than expected to 2.2%, and service sector inflation, a crucial gauge for domestic price pressures, fell to 5.2% from 5.7%.<\/p>\n<p>Looking ahead, UK retail sales data is due tomorrow and is expected to rise 0.5% month over month in June after falling -1.2% in May.<\/p>\n<p>Meanwhile, the euro has fallen across the board amid an absence of economic data releases owing to a public holiday in the eurozone.<\/p>\n<p>Risk sentiment is also undermining the euro. As risk appetite improves, demand for the pound over the euro, the riskier of the two currencies, will increase.<\/p>\n<p>The eurozone&#8217;s economic calendar is set to remain light for the rest of the week, meaning that the euro will likely continue to be driven by risk sentiment.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is rising after losses yesterday UK GDP rose 0.6% in Q2 Euro (EUR) falls in quiet holiday trade Risk sentiment favours the pound over the euro The Pound Euro (GBP\/EUR) exchange rate is rising after losses yesterday. The pair fell 0.46% in the previous session, settling on Wednesday at \u20ac1.1647 and trading in [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-118141","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","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: Pound rises after GDP data - 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\/gbp-eur-pound-rises-after-gdp-data\/\" \/>\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\\\/gbp-eur-pound-rises-after-gdp-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-pound-rises-after-gdp-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound rises after GDP data\",\"datePublished\":\"2024-08-15T17:59:50+00:00\",\"dateModified\":\"2024-08-15T21:36:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-pound-rises-after-gdp-data\\\/\"},\"wordCount\":340,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-pound-rises-after-gdp-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100834-gbp-eur-eurozone-gdp-data.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-pound-rises-after-gdp-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gbp-eur-pound-rises-after-gdp-data\\\/\",\"name\":\"GBP\\\/EUR: Pound rises after GDP data - 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