Sterling jumps to almost 1.2900 after a series of upbeat UK data
The British Pound (GBP) is outperforming its main rivals in New York on Friday. The British currency is gaining significantly as the Office for National Statistics (ONS) reported that retail sales rebounded in July, in line with expectations, after a keen decline in June. Read more…
GBP/USD rises above 1.2850 ahead of UK retail sales data
GBP/USD strengthened for a second straight session, trading near 1.2870 during Asian trading on Friday. Improving risk sentiment, driven by a stronger-than-expected recovery in US retail sales, eased concerns about a potential US recession and boosted risk-sensitive currencies such as the British Pound (GBP). Read more…
GBP/USD bulls target 1.2900 amid rebound in risk appetite
GBP/USD hit the gas pedal on Thursday after a sharper-than-expected rebound in US retail sales pushed Cable back into the upper range. Market sentiment bounced back on the day after fears of a possible US recession were cooled by US data beating expectations, while sterling gained additional bullish momentum from growth in UK gross domestic product (GDP) that met expectations and UK industrial production that came in well ahead of forecasts in July. Read more…
