Sterling Does Not Give Ground, Retail Sales Help

The Great Britain pound is still resilient, correcting after yesterday’s big rally, but not much. The currency yet again got support from positive domestic economic data that signaled about robust recovery.

The sterling was demonstrating healthy performance at the beginning of the current trading session and did not fall far since then. Retail sales helped the currency, showing 0.3 percent growth in November from October. The increase was not big, but it still is better reading than the October’s drop by 0.9 percent. Almost all indicators demonstrate recovery in the United Kingdom and this helps the pound to retain its strength.

GBP/USD fell from 1.6389 to 1.6334 intraday, but bounced to 1.6382 as of 16:41 GMT today. GBP/JPY was at about 170.63 following the drop from 170.89 to 169.89.

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