The EUR/GBP cross posts modest gains around 0.8535 during the early European trading hours on Tuesday.
EUR/GBP snaps the five-day losing streak near. 0.8535 in Tuesday’s early European session. German Retail Sales climbed 0.3% YoY in March, compared to a decline of 2.7% in February. The cautious approach from the BoE’s policymaker supports the Pound Sterling . The EUR/GBP cross posts modest gains around 0.8535 duringtheearly European trading hourson Tuesday.The latest German Retail Sales were hotter-than-expected.
If the reports show a softer-than-expected outcome, this might allow the ECB to pivot to interest rate cuts sooner and weigh on the EUR. On the other hand, Bank of England Chief Economist Huw Pill warned last week that there weregreaterrisks from cutting the interest rate tooquickly,rather than too late. His cautious approach to monetary policyprovides some support to the British Pound . However, investors have priced in the first rate cut from the BoE in August, with 50 basis points expected.
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