Pound to Euro Exchange Rate Remains Soft
The Pound to Euro exchange rate ticked lower yesterday as disappointing British trade data impacted demand for Sterling.
A separate report showed that UK industrial production expanded 0.3% in June, beating forecasts of a -0.1% contraction. The figure was accompanied by positive growth of 0.6% in the manufacturing sector, however, the mildly upbeat factory output figures were not enough to lift the mood of doom and gloom around the Pound and the UK trade deficit.
Indeed, GBP/EUR remains close to its lowest level for seven years as Brexit anxieties and receding Bank of England rate hike bets continue to weigh on Sterling.
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