Euro hits session lows against the British Pound following Eurozone Inflation data

The Euro (EUR) edges lower against the British Pound (GBP) on Friday, hitting session lows at 0.8554 following the Eurozone’s preliminary inflation figures from July. The pair has turned negative in the daily chart, but remains on track for a 0.2% weekly appreciation so far.

Data released on Friday showed that the Eurozone’s preliminary Harmonised Index of Consumer Prices (HICP) accelerated to a 2.9% year-on-year growth in July, from June’s 2.8% growth, in line with the market’s expectations. Monthly inflation rose 0.2%, reversing the 0.1% contraction seen in June. Beyond that, the core HICP, ticked up to 2.5% against market expectations of a…

Read the full article at FXSTREET.COM