The British pound today rallied higher against the US dollar from the early European session following the release of upbeat UK retail sales data for January. The GBP/USD currency pair was trading in a see-saw fashion during the Asian session as investors remained indecisive regarding the Sterling.
The Great Britain pound declined today, dragged down by poor performance of the housing market and Brexit worries. The currency fell versus all of its most-traded rivals, including the Japanese yen, which itself was soft.
The British pound today traded in an erratic manner against the US dollar as it rallied higher in the Asian session, before falling, and then spiking higher on Brexit rumors. The GBP/USD currency pair was not done with its sudden moves as it quickly retraced all its gains and headed lower in the American session as the greenback recovered.
The British pound today dropped to new daily lows in the early European session following the release of weak UK manufacturing and GDP data at that time. The Sterling was further weighed down by the uncertainty surrounding the Brexit issue with only 46 days left before Brexit day.
The Sterling pound today dropped below 2-week lows in the early London session as investors priced-in Brexit uncertainty ahead of a crucial meeting between Theresa May and the European Commission President. The GBP/USD currency pair dropped to new 2.5-week lows following the Bank of England‘s interest rate decision in the mid-European session.
The British pound today traded in a range amid a lack of any major Brexit headlines or macro releases to push the cable in either direction. Investors were waiting for the outcome of Theresa May‘s visit to Northern Ireland in order to determine the currency pair’s future direction.
The Great Britain pound was soft today after Britain’s services sector demonstrated surprisingly poor performance, expanding at the slowest rate in two-and-a-half years. Positive retail sales data was not able to offset the impact of the negative report.
The Sterling pound declined today as markets remained cautious amid Brexit concerns as EU leaders continue to reject the UK’s alternative Brexit Plan B. The pound was dealt a further blow after the UK construction PMI missed expectations indicating that the industry grew much slower than expected.
The Great Britain pound traded widely lower today after the UK manufacturing index touched the lowest level in three months.
The Sterling pound today rallied slightly against the US dollar after the UK Parliament approved Sir Brady’s amendment allowing the Prime Minister to renegotiate the Irish backstop plan. The pound’s gains were limited by the fact that the European Union has categorically stated that it will not reopen negotiations regarding the current Brexit deal as it is final.
