British pound remains lower versus greenback

British pound remains lower versus greenback

On Thursday, the British pound remained weaker versus the moderately stronger greenback notwithstanding data showing that British retail sales ascended at a faster than expected tempo in June.

The currency pair GBP/USD hit 1.2969, which is not far the day’s minimums of 1.2973.

According to the Office for National Statistics, retail sales grew 0.6% the previous month, in contrast with predictions for a 0.4% leap, having dropped 1.1% in May.

On a year-over-year basis retail sales rallied 2.9%, ahead of predictions for a 2.5% jump.

The soar was backed by warmer weather that helped to boost sales of summer clothing and compensate dips in food as well as fuel sales, as the ONS informed.

The report showed that consumer spending keeps holding up in the face of soaring inflation. It definitely erodes household incomes.

Inflation has abruptly accelerated since the previous year’s Brexit vote because the steep sag in the British pound bolstered import prices, provoking fears over a dip in living standards with wages lagging growing prices.

Similar

Greenback reaches fresh 3-year minimums on euro strength

On Wednesday, the evergreen buck sank to fresh three-year minimums versus other key currencies because the common currency kept broadly strengthening, while the end of the American government shutdown didn’t manage to support the US currency…

Aussie and Kiwi add as US dollar keeps diving

On Wednesday, the Australian and New Zealand dollars rallied versus its American rival because market sentiment on the US currency was affected by a fresh ascend by the common currency and also the fact that the end of the American government shutdown…

Greenback dives to day’s minimums versus yen

On Tuesday, the evergreen buck went down to the day’s minimums versus the Japanese yen, reversing earlier revenues, which emerged right after the head of the BOJ told it remained committed to today’s monetary easing and the bank wasn’t braced for scaling…

Popular

Yen climbs up in Asia trade

On Friday, the Japanese yen leapt in Asia on safe-haven demand because political turmoil in Brazil reached risk sentiment and financial markets became cautious ahead of the weekend…

Pound tumbles vs yen

On Tuesday, the British pound sank versus the Japanese yen after a suspected terrorist attack at a concert in Manchester, while the common currency hovered close to a six-month peak versus the greenback after German Chancellor Angela Merkel told that the…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera