The Great Britain pound were attempting to advance on the previous two days, but the potential rally was cut short as the consumer UK confidence experienced a significant decline.
The GfK NOP Consumer Confidence Index has dropped eight points this month to -29, the lowest figure since March 2009, when it was -30. Nick Moon, MD of GfK NOP Social Research, commented on this reading:
Januaryâs eight point drop represents an astonishing collapse in consumer confidence. In the 35 years since the Index began, confidence has only slumped this much in a single month on six occasions, the last being November to December 1994.
GBP/USD dropped from 1.5927 to 1.5877 as of 11:30 GMT today, while GBP/JPY fell from 132.05 to 131.16.
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