Positive Data Doesn’t Help Pound to Rally

The Great Britain pound moved lower against its major counterparts today even though macroeconomic data from the United Kingdom was supportive for the currency.
Distributive Trades Survey released by Confederation of British Industry demonstrated a positive balance of +49 percent in September, double the previous value and far above market expectations. The positive data should increase pressure on the Bank of England to normalize its monetary policy. The sterling gained a bit after the report, but the rally was anemic and short-lived as the currency quickly slid below the opening level afterwards.
GBP/USD fell from 1.5171 to 1.5158 and GBP/JPY inched down from 181.94 to 181.42 as of 19:48 GMT today.

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