The Great Britain pound retained its weakness against the US dollar today, following yesterday’s losses and touching the lowest level in a month. Against the Japanese yen, the sterling continued to trade sideways.
Britain’s retail sales rose just 0.1 percent in June from May. Market participants counted on at least 0.2 percent growth. The data followed yesterday’s Bank of England policy minutes, which put heavy pressure on the UK currency, suggesting that monetary tightening will not happen soon.
GBP/USD sank from 1.0738 to 1.6987 as of 22:07 GMT today, reaching the low of 1.6967 intraday — the weakest since June 25. GBP/JPY traded near the opening level of 172.91.
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