Sat, Oct 23, 2021 @ 10:43 GMT
HomeContributorsFundamental AnalysisGBP/USD: UK Retail Sales

GBP/USD: UK Retail Sales

The British Pound strengthened against the Greenback, following the UK retail sales report on Thursday. The GBP/USD currency pair gained only four pips, or 0.03%, in the first minute after the release. However, the GBP/USD currency pair showed growth only in the first two minutes and continued to decline afterwards.

The Office for National Statistics revealed better-than-expected retail sales data, but that was not enough to cause a significant move on the market. British retail sales grew 0.8% in February, exceeding the forecasts of 0.4%. Despite the fact that retail sales grew, doubts about consumer purchase power remained, as the Bank of England plans on raising interest rates.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading