Home Forex GBP/USD falls as UK retail sales fall sharply, fueling recession fears

GBP/USD falls as UK retail sales fall sharply, fueling recession fears

by SuperiorInvest


Share:

The pound sterling (GBP) fell American dollar (USD) after the Office for National Statistics (ONS) revealed that retail sales fell sharply, which could discourage the Bank of England (BoE) from keeping policy tight without the economy going into recession. Mixed data from the United States (US) sponsored a decline in the main such as GBP/USD exchanged hands at 1.2687 after reaching a daily high of 1.2714. Read more…
The pound sterling (GBP) is falling sharply as the UK’s Office for National Statistics (ONS) reports negative retail sales data for December. UK household spending fell sharply as individuals faced the heavy burden of higher interest rates and consumer price inflation that exacerbated the cost of living crisis. A sharp fall in high street sales would have been expected to ease pressure on the outlook for stubbornly high inflation, but in the end it was not enough to move the needle. Read more…
The GBP/USD the pair is up for the third day in a row on Friday and looks set to build on this week’s good bounce from levels below 1.2600, or the lowest levels since December 13. Spot prices are currently trading just above the round number of 1.2700 and flirting with the 200 hour Simple Moving Average (SMA). Read more…
fxoriginal

Source Link

Related Posts