The Great Britain pound stabilized today following yesterday’s losses. One of the possible reasons for the decent performance was the better-than-expected retail sales report.
Britain’s retail sales dropped 0.4% in February from January. While the reading was not particularly good by itself, it was better than the predicted drop by 0.7%. This helped the sterling to halt its decline, though the currency remains under pressure from the Brexit fears.
GBP/USD bounced to 1.4330 as of 10:42 GMT today after opening at 1.4116 and falling to 1.4057. GBP/JPY edged up from 158.62 to 159.10.
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