EUR/GBP: Pound to Gain on Expected Rebound in Retail Sales

The Euro is believed to sustain yesterday’s losses alongside the British pound as the Euro area recession deepened more than forecast in its worst performance in almost four years as the bloc’s three largest economies exhibited slumping output. Meanwhile, an estimated rebound in British retail spending in January is believed to prop up the Sterling today.

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Financial Markets Review by Lloyds TSB

Sterling outperformed versus the G-10 currencies except against the Canadian dollar and the US dollar despite a sharp sell-off towards the end of the week following poor UK