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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.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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