GBP/USD continued to drop late in the North American session following upbeat data in the United Kingdom (UK), but the market turned south as news emerging from Japan strengthened the greenback, which appreciated against most G7 currencies. The GBP/USD trades at 1.2851, losing 0012%, after hitting a daily high of 1.2904. Read More…
The Pound Sterling (GBP) delivers a solid recovery near 1.2820 as the United Kingdom Retail Sales data turned out more resilient than expected. The GBP/USD pair rebounds swiftly as consumer spending growth expanded strongly in June. Monthly Retail Sales in June expanded by 0.7% vs. expectations of 0.2%. Annual consumer spending data contracted by 1.0% against the consensus of -1.5%. Read More…
While extra downside in GBP/USD remains on the cards, there is a strong support around 1.2780 according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More…
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