Euro edges lower ahead of key data

EUR/USD edged lower to 1.1014, ahead of the release of key eurozone inflation and growth data after European Central Bank President Christine Lagarde hinted at a pause in its tightening cycle as soon as September.

German retail sales fell 0.8% on the month in June, an annual drop of 1.6%, pointing at continued weakness in the most important economy in the eurozone.

Elsewhere, GBP/USD rose 0.1% to 1.2860, ahead of the Bank of England‘s policy meeting later this week, where expectations are for a quarter-point rate hike.