Pound Steady vs. Dollar, Lower vs. Yen After Retail Sales Survey

The Great Britain pound was little changed against the US dollar and fell versus the Japanese yen today as data showed that retail sales slowed in the United Kingdom this month.
Confederation of British Industry reported that the balance of retail sales was at plus 29 percent in June, down from 51 in May. Economists remain optimistic, though, as summer is the season when sales usually pick up.
The sterling held steady versus the dollar while it was moving lower against the yen but climbed recently and erased most of its losses.
GBP/USD traded at about 1.5711 as of 10:32 GMT today, near the opening rate of 1.5703. GBP/JPY was at 194.28 after opening at 194.48 and falling to 193.45.

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