EUR/GBP continues to lose ground, trading around 0.8390 during Friday’s Asian hours, following the release of UK Retail Sales data for August.
EUR/GBP extends its decline as the Pound Sterling gains support from the BoE’s decision to maintain its interest rate. UK Retail Sales rose by 1.0% MoM in August, following a prior increase of 0.5%. Germany's Producer Price Index recorded a consistent increase of 0.2% for August. Retail Sales rose by 1.0% month-over-month, exceeding the previous increase of 0.5% and the expected rise of 0.4%. Meanwhile, the annualized rate increased to 2.5%, up from the previous 1.5% rise.
8%, against the expected 1.0% decline. Traders are likely to focus on European Central Bank President Christine Lagarde’s speech at the Michel Camdessus Central Banking Lecture in Washington, DC, on Friday. European Central Bank policymakers are divided on the pace of policy easing due to differing views on the inflation outlook.
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