- June 2, 2026
- Posted by: EWGFX
- Category: news
The Pound to Euro (GBP/EUR) exchange rate edged higher at the start of the week as softer German consumer data weighed on the single currency while an upward revision to UK manufacturing activity provided modest support for Sterling.
At the time of writing, GBP/EUR was trading around €1.1555, up roughly 0.2% on the day.
Latest — Exchange Rates:
Pound to Euro (GBP/EUR): 1.15697 (+0.19%)
Pound to Dollar (GBP/USD): 1.34458 (-0.04%)
Euro to Dollar (EUR/USD): 1.16216 (-0.23%)
DAILY RECAP:
The Euro (EUR) began the week on the defensive following the publication of Germany’s latest retail sales figures.
Data from Destatis showed retail sales fell by 0.3% in April, marking a fourth consecutive monthly decline and reinforcing concerns that consumers in the Eurozone’s largest economy remain under pressure.
While the decline was slightly smaller than expected, the continued weakness in household spending dampened sentiment towards the single currency.
Additional pressure came from the European Central Bank’s latest consumer expectations survey.
The report showed inflation expectations remained broadly unchanged in April, reducing speculation that households are becoming increasingly concerned about future price pressures.
Meanwhile, the Pound (GBP) attracted modest support after revised UK manufacturing PMI figures painted a slightly stronger picture of activity.
The final reading for May was revised higher to 53.9 from an initial estimate of 53.7, representing the strongest expansion in the sector for four years.
Sterling’s gains remained limited, however, as economists questioned how sustainable the improvement might prove.
Much of the recent strength appears linked to businesses bringing forward purchases and orders ahead of expected price increases stemming from ongoing geopolitical tensions and higher energy costs.