Pound Mixed amid Clashing Fundamentals

The Great Britain pound was ending the Thursday’s trading session mixed. The sterling rose against some rivals, propelled higher by very good retail sales data, but fell versus others, dragged down by the market’s risk-negative sentiment that followed the dovish policy statement from the European Central Bank.

The Office for National Statistics reported that Britain’s retail sales rose 1.3% in May from April. That is compared to a 0.5% increase predicted by analysts. Released earlier, the house price balance reported by the Royal Institution of Chartered Surveyors was basically flat in May, showing a reading of -3%, which was better than a figure of -5% predicted by experts and -7% registered in the prior month.

GBP/USD dropped from 1.3373 to 1.3261 as of 21:35 GMT today, retreating from the daily high of 1.3446. Meanwhile, EUR/GBP tumbled from 0.8815 to 0.8725.

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