Great Britain Pound Little-Changed During Quiet Tuesday’s Trading

The Great Britain pound was steady on Tuesday, the same as some other currencies (like the Australian dollar). Britain’s economic reports were mixed, giving the currency no reason to go one way or the other.

Retail sales reported by British Retail Consortium dropped 1.0% in March from a year ago, though the report said that data released ahead of the volatile Easter period may be unreliable. Meanwhile, consumer price annual inflation remained steady at 2.3% in March while experts had predicted small slowdown to 2.2%. That increases chances for an early interest rate hike from the Bank of England, though the central bank’s decision will likely strongly depend on Brexit negotiation between the United Kingdom and the European Union.

GBP/USD ticked up from 1.2411 to 1.2425 as of 11:33 GMT today. At the same time, EUR/GBP rose from 0.8527 to 0.8540.

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