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May 23 - 04:55 AM

GBP/USD - Climbs To New 39-Month Peak On UK Retail Sales Beat

By Robert Howard  —  May 23 - 03:36 AM

• Cable rises to 1.3481 after much better than expected UK retail sales data

• Up 1.2% MM in April vs 0.2% forecast. 1.3481 is highest level since Feb 2022

• Corporate/option-related offers may emerge near 1.35 if ascent extends

• 1.35 was 2009 low - the base level from 1986 until 2016 Brexit referendum

• 1.3440 (Thursday high) is now a support point (1.3992 was Thursday low)

• Energy regulator Ofgem lowers price cap on UK household energy bills by 7%

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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