GBP/USD moves down on UK data

GBP/USD moves down on UK data

On Thursday, the British pound decreased versus the greenback, suppressed by the publication of dismal British retail sales data. Moreover, market participants were waiting for the Bank of England’s policy verdict.

The currency pair GBP/USD reached 1.2704 during European morning trade, which the lowest outcome since Tuesday.

According to the UK Office for National Statistics, retail sales went down 1.2% in May, while financial experts and investors hoped for a 0.8% descend.

The British pound was still under pressure amid surging political uncertainty in the United Kingdom.

The Bank of England is supposed to leave its monetary policy intact, though traders relish a though of getting extra clues on future policy moves.

The US dollar remained quite vulnerable amid everlasting American political turmoil.

The major British currency was nearly intact versus the common currency, with EUR/GBP keeping to 0.8802.

 

Similar

Aussie and Kiwi stand still vs. weaker greenback

On Thursday, the Australian and New Zealand dollars were intact versus their American counterpart because the US currency moderately recovered from losses posted after the publication of the minutes of the Fed’s latest policy gathering…

Greenback hits two-month low vs. yen

On Thursday, the evergreen buck hit a two-month minimum against the Japanese yen, having dropped after the minutes of the Fed’s latest gathering disclosed that some Fed policymakers were really concerned about constantly low inflation…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

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