Weak UK reports put pressure on GBP-USD

Posted 19 January, 2018

The sterling has started moving downwards vs US dollar today. The negative dynamics of the British currency is related to the release of UK's retailing data, that showed low performance in this sector. Yet, with US dollar weakening observed lately GBP rate managed to remain close to an 18-month peak.

The sterling-to-US dollar exchange rate left the previous session top of 1.3941, though remained on the rise so far – 0.04% up to 1.3902. As for the European currency, it improved vs the sterling by 0.24% to 0.8826.

The reason behind the sterling reversal lies in the retailing report announced on Friday. According to the statistics, the UK recorded a decline in retailing sales that exceeded the anticipated level.

The situation with the US dollar has not changed on Friday – the officials failed to agree on the Federal budget. As a result, there is a high probability of the government closure on the weekend. For reference, earlier the US dollar felt pressure from the expectations that the global economic growth would exceed US rates and force central banks of other countries to tighten monetary policy.

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19 January, 2018 16:44

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19 January, 2018 12:37

Threat of government closure depresses US dollar →

The US dollar has weakened against the majors driven by a threat of temporal closure of the government on coming weekend. The decline was caused by the failure of the US officials to agree on the Federal budget. For reference, earlier American currency felt pressure from the expectations that the global economic growth would exceed US rates...

Threat of government closure depresses US dollar
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