Bearish
EUR/GBP retreats from two-month highs as Eurozone Retail Sales disappoint
In the past 24 hours, EUR/GBP has declined from its recent two-month highs, influenced by weaker-than-expected Eurozone Retail Sales data and hawkish comments from Bank of England Chief Economist Huw Pill. The Eurozone reported a 0.6% month-over-month decrease in retail sales for July, missing expectations of a 0.3% increase. Concurrently, Pill's remarks have bolstered the Pound, contributing to the pair's downward movement.
Key points
- Eurozone Retail Sales fell 0.6% in July, underperforming expectations.
- BoE Chief Economist Huw Pill's hawkish comments support the Pound.
- EUR/GBP tests the 0.8600 level after recent gains.
Sources
AI-generated from public news sources. Not financial advice.
