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UK Retails Sales Decline, Sterling Loses Ground

February 17, 2017 at 12:28 by Vladimir Vyun

Focus on digits on UK pound notesThe Great Britain pound fell today as Britain’s retail sales logged an unexpected decline last month, continuing the trend of worse-than-expected economic releases.

Retail sales were down 0.3% in January from the prior month. Forecasters were completely wrong with their promises of a 1.0% increase. The sterling was data-dependent lately, and so happens the recent macroeconomic data was not stellar, sending the UK currency down.

GBP/USD dropped from 1.2488 to 1.2427 as of 12:16 GMT today. EUR/GBP advanced from 0.8542 to 0.8574.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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