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Euro extends losses versus British pound amid mixed UK and Germany data

The EUR/GBP pair slid to fresh two-week lows below 0.8560, after Germany reported August retail sales down 0.4% year on year and the UK revised Q2 GDP growth higher.

Reported · Written up by our desk · Major Pairs

The euro extended its declines against the British pound for a fourth straight day, with the EUR/GBP pair reaching fresh two-week lows below 0.8560, down 0.4% so far this week, FXStreet reported.

FXStreet pointed to mixed regional data, saying Germanys retail sales contracted 0.4% in August after a 2.5% fall in July, while the year-on-year figure rebounded to 1.3% from a 3.4% decline the prior month but still missed expectations for a 2.0% gain.

In the UK, FXStreet said Q2 GDP was revised to 0.5% growth from 0.4% and year-on-year growth to 1.4% from 1.2%. The outlet also noted the UK current account deficit narrowed to GBP 19.932 billion in Q2 from a downwardly revised GBP 21.12 billion in Q1, while markets had expected a wider shortfall.

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