How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
GBP/USD pares revenues on dismal UK data
On Friday, the British pound pared revenues versus the greenback, after the publication of dismal British retail sales affected optimism over the strength of the British economy. However, the overall weakness in the US currency kept the pair close to one-and-a-half year maximums.
The currency pair GBP/USD rallied 0.13% being worth 1.3915, which is off session peaks of 1.3941 and also not far from Wednesday's one-and-a-half year maximum of 1.3944.
The UK currency dropped after Friday’s data revealed that British retail sales went down much more than anticipated in December.
On Thursday, French President Emmanuel Macron told that if Great Britain is concerned with accessing the single market, it’s going to be bound to contribute to the EU budget and adhere to European jurisdiction.
Meanwhile, market sentiment on the US currency was still vulnerable because on Thursday American lawmakers didn’t manage to agree on a federal budget deal, driving worries of a government shutdown this weekend.
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