Brexit hindering GBP's upside - Scotiabank
|Analysts at Scotiabank noted that UK retail sales rose a better than expected 0.3% in Aug while Jul sales were revised higher to 1.1% (from 0.9%).
Key Quotes:
"That’s the good news. That bad news is that the Salzburg EU summit appeared to make little progress on Brexit; PM May appealed for concessions from the EU but France and German sounded less confident on a deal. EC President Juncker said a deal remained “far away”. Sterling is riding higher on a generally weaker USD but is weaker against the EUR today. We think recent Brexit optimism is somewhat misplaced."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.