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Positive EU Data Puts Further Pressure On Sterling

C

Christopher Gutfreund

Founder · 31 July 2019

Currencies Covered:

EURGBPGBP-EUR

Figures just released showed a 1.1% growth year on year and 0.2% growth for Q2 2019.

Wednesday 31st July 2019 - 10:10am (BST)

Positive German retail and unemployment numbers have helped the EU shrug-off concerns over a slowing economy and about the UK’s departure from the trading bloc. Figures just released showed a 1.1% growth year on year and 0.2% growth for Q2 2019. The Euro strengthened a touch against a majority of currency pairs following the news.

Elsewhere, UK housing data was slightly better than expected with house prices growing on average 0.3% over the last month. This offered the vulnerable pound little respite as the market continues to see its value slide ahead of the October 31st Brexit deadline. The new UK Prime Minister, Boris Johnson, has adopted a hardline stance to negotiations since entering number 10, increasing the possibility of the UK leaving the EU without a trade agreement.

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