GBP Could Struggle Following UK Retail Sales Figures (Matthew Vassallo)

GBPCHF Exchange Rates Reach Highest Levels Since Mid-March
Matt Vassallo

GBP/EUR rates have remained fairly flat during Friday’s trading, with Sterling gaining slightly on the exchange this morning. The EUR has realigned itself this afternoon and it seems as if the markets are still trying to digest the raft of economic data we’ve seen this week.

This morning’s UK Retail Sales figures were far from positive and personally I feel it will be difficult for GBP to make any serious inroads against the EUR following this news. Whilst market conditions are constantly changing, it is interesting to note that every time GBP/EUR rates get up around the current level they recede very quickly and I would not be surprised to see the EUR make further gains next week.

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