EUR/GBP extends its gains for the second successive session, trading around 0.8420 during the European hours on Thursday.
EUR/GBP gains ground as ECB maintains current interest rates at Thursday’s meeting. ECB has maintained its main refinancing rate at 4.25%, as expected. ECB President Christine Lagarde is expected to emphasize the need for more data to ensure confidence in the disinflation process. The Euro remains strong as the European Central Bank decided to maintain its main refinancing rate at 4.25%, as expected, at its July Monetary Policy Meeting.
The previous reading had shown a decrease of 140K. On Wednesday, the final UK Consumer Price Index inflation figures met expectations, but a larger-than-anticipated decline in UK Producer Price Index inflation briefly put pressure on the British Pound. Traders anticipate the release of the UK Retail Sales data on Friday. Expectations are for a 0.4% month-over-month decline in June, following the previous month's 2.9% increase. Despite this, Retail Sales are forecasted to rise by 0.
Crosses Interestrate ECB Eurozone
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