Pound Underperforms Despite Supportive Data

The Great Britain pound fell against the US dollar and was little changed versus the Japanese yen today even though the recent economic reports from the United Kingdom were positive and should have been supportive for the currency.
UK net public borrowing was at £9.4 billion in May (not seasonally adjusted), below market expectations. Released yesterday, retail sales demonstrated surprise growth by 0.2 percent in May, whereas analysts expected no change. Yet all the positive data did not help the sterling to rise during the Friday’s trading session.
GBP/USD dipped from 1.5877 to 1.5862 as of 12:48 GMT today. GBP/JPY traded at 195.10 after opening at 195.22.

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