European Session – Sterling and Euro weaken after soft data
Posted on July 8, 2014 at 1:23 pm GMTThe sterling was notably weaker today as was the euro following disappointing data from Germany and from the UK. UK industrial and manufacturing production came in softer – than – expected at – 0.7% month-over-month and – 1.3% month-over-month respectively. The weak UK data raised concern about the recovery of the British economy although some believe that it is not enough to change the Bank of England’s policy stance and the view that interest rate hikes are likely to come [..]