GBP / EUR: Increase to € 1.20 – Currency Live

The exchange rate of the Euro pound (GBP / EUR) increases for the third day in a row.

The pound hit a new 23-month high on Tuesday after retail sales jumped 4.6% from 2019, according to the BRC. Barclaycard data also showed UK consumers spent 12.2% more in December than in two years.

Meanwhile, Prime Minister Boris Johnson is under pressure to resign amid the growing scandal of a party at 10 Downing Street in lockdown.

The euro was supported by a weaker US dollar after Fed Powell’s testimony and comments from the new Bundesbank chairman.

German wholesale inflation data will be closely watched.

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