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Jan 05 - 05:55 AM

EUR/GBP - Weighed Down By Weak German Retail Sales Data

By Rob Howard  —  Jan 05 - 04:05 AM
  • EUR/GBP falls to 0.8609 as disappointing German data weighs on the euro

  • German Nov retail sales down 2.5% MM vs minus 0.1% forecast nAPN18PD6E

  • 0.8609 is lowest level since Dec 19 (0.8611 was Thursday's low)

  • Pound supported by recent hawkish shift in BoE interest rate expectations

  • Probability of BoE rate cut by May down to 84% vs 100% Tuesday 0#BOEWATCH

  • Bids expected around 0.8600 if EUR/GBP extends south (0.8599 was Dec 19 low)

Source:
Refinitiv IFR Research/Market Commentary

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