UK retail data strong, pound sterling rises to two and a half year high against the euro

Jinshi Data October 18th News, the pound against the euro rose to its highest level in two and a half years. Prior to this, UK retail sales data was stronger than expected, indicating that the country’s economy may perform well, forming a sharp contrast with the signs of stumbling in the eurozone economy. Shortly before the release of this data, the European Central Bank decided to cut interest rates on Thursday, triggering market expectations that interest rates may be cut at every meeting in the next few months. Francisco Pezzolli, an analyst at ING, said in a report that after a strong rise in August, UK retail data was better than expected in September, which is another sign that the UK economy is still relatively stable.