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

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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