Sterling is falling as a decline in UK retail sales sets the stage for BoE interest rate cuts
The pound sterling (GBP) fell sharply against its main rivals on Friday after the Office for National Statistics (ONS) reported that retail sales unexpectedly fell in December, another piece of news reinforcing the faint economic outlook. Retail sales data, a key measure of consumer spending, fell 0.3% month-on-month. Economists expected the measure of consumer spending to grow at a faster pace of 0.4% than the 0.2% gain in November. Read more…
GBP/USD Price Forecast: Remains below the 1.2250 barrier near the nine-day EMA
GBP/USD remains subdued for the second day in a row, trading near 1.2230 during Friday’s Asian session. However, technical analysis of the daily chart suggests a persistent bearish bias, with the pair continuing to trade within a descending channel. Read more…
GBP/USD snaps two-day winning streak, UK retail sales surge
GBP/USD traded higher near familiar levels on Thursday, ending with a flat day after exploring some intraday declines and snapping a two-day winning streak as price action stalled at 1.2200. Read more…
