Euro Surges Past Two-Week High Against Pound Despite Strong UK Data

The Euro (EUR) gained strength against the British Pound (GBP) despite strong UK consumer data. The EUR/GBP pair climbed towards 0.8550 during Friday's European session, reaching a two-week high.

UK Retail Sales rose by 1% Month-on-Month (MoM) in June, beating expectations for a 0.3% decline. Annual growth reached 4.2%, exceeding forecasts of a 2.3% increase.

The Pound struggled against several major currencies despite the positive retail figures. Markets continued to assess the outlook for UK interest rates and upcoming economic data.