Pound Sterling Price News and Forecast: GBP/USD hits hard by sharp contraction in UK Retail Sales

FXStreet Team FXStreet

Pound Sterling hits hard by sharp contraction in UK Retail Sales

The Pound Sterling (GBP) extends its correction against the majority of its peers in Friday’s New York session. The British currency slides further as the United Kingdom (UK) Office for National Statistics (ONS) has reported weaker-than-expected Retail Sales data for June. Read More...

UK Retail Sales drop 1.2% MoM in June vs. -0.4% expected

The United Kingdom (UK) Retail Sales dropped 1.2% over the month in June after rebounding 2.9% in May, the latest data published by the Office for National Statistics (ONS) showed Friday. Markets projected a 0.4% decline in the reported month. Read More...

GBP/USD hangs near weekly low, below mid-1.2900s ahead of UK Retail Sales

The GBP/USD pair prolongs its corrective decline from a one-year peak, around the 1.3045 region touched earlier this week and drifts lower for the second successive day on Friday. Spot prices drop to the 1.2935-1.2930 area, or a fresh weekly low during the Asian session amid some follow-through US Dollar (USD) buying, albeit lack bearish conviction. Read More...

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