Name Symbol Market Type
Euro vs Pound Sterling FX:EURGBP Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.000645 -0.08% 0.858145 0.8581 0.85819 0.86105 0.857265 0.858885 0 10:27:48

Pound Climbs As U.K. Retail Sales Rise Unexpectedly

20/05/2022 8:15am


Euro vs Sterling (FX:EURGBP)
Forex Chart

From Dec 2021 to Dec 2022

Click Here for more Euro vs Sterling Charts.

The pound appreciated against its most major counterparts in the European session on Friday, as the nation's retail sales grew unexpectedly in April despite consumer confidence sliding to a record low as soaring inflation boosted the cost of living further.

Data from the Office for National Statistics showed that retail sales expanded 1.4 percent monthly, reversing a revised 1.2 percent decline in March.

Sales were forecast to drop 0.2 percent in April.

China's reduction in the borrowing rate to boost the virus-hit economy lifted European shares, further underpinning the currency.

The People's Bank of China cut the five-year loan prime rate by 15 basis points to 4.45 percent from 4.60 percent to revive the property sector. This was the second reduction this year.

The pound reversed from its early lows of 1.2080 against the franc and 1.2437 against the greenback, rising to 1.2163 and 1.2497, respectively. The pound is seen finding resistance around 1.24 against the franc and 1.28 against the greenback.

The pound advanced to a 2-day high of 160.20 against the yen, from a low of 158.73 set at 11:50 pm ET. If the pound rises further, 162.00 is possibly seen as its next resistance level.

The pound reached as high as 0.8464 against the euro, but it has since eased to 0.8491. At yesterday's close, the pair was worth 0.8485.

Looking ahead, Eurozone flash consumer sentiment index for May will be published at 10:00 am ET.

1 Year Euro vs Sterling Chart

1 Year Euro vs Sterling Chart

1 Month Euro vs Sterling Chart

1 Month Euro vs Sterling Chart
Your Recent History
Euro vs St..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221202 10:42:48