The British Pound fluctuated against the US Dollar after the UK retail sales report, falling initially by 4 base points to the 1.3916 mark. The GBP/USD exchange rate briefly touched the 1.3945 level remaining in the bearish trend.
Britain’s shop sales depreciated by more than anticipated in December, confirming the weakest yearly growth in retail in four years, as consumer spending remained limited due to Brexit-hit prices. The Office for National Statistics revealed that the volume of retail sales fell 1.5% from November, reversing a 1.0% increase registered in the prior month. Meanwhile, the Bank of England anticipated the squeeze on consumers to ease this year, as inflation calms down and pay growth accelerates.
