Brexit Fears & Poor Macroeconomic Data Drive Pound Down

The Great Britain pound fell today, trading near the lowest level since January 17 versus the US dollar, driven down by Brexit fears and poor macroeconomic reports.

British Retail Consortium reported that like-for-like retail sales fell 0.4% in February from a year ago. The Halifax House Price Index was up just 0.1% last month from the previous month versus the 0.4% increase predicted by analysts. Meanwhile, the House of Lords was preparing for the second vote to decide exact wording of the Brexit Bill.

GBP/USD slid from 1.2235 to 1.2199 as of 13:29 GMT today. EUR/GBP was up from 0.8645 to 0.8667.

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