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Apr 22 - 03:55 AM

GBP/USD - Drops Through 1.30 After UK Retail Sales Miss

By Rob Howard  —  Apr 22 - 02:45 AM
  • Cable falls to 1.2992 after worse than expected UK retail sales data

  • Down 1.4% MM in March vs -0.3% f/c; up 0.9% YY vs 2.8% f/c nL5N2WK1AJ

  • 1.2992 = three-day low. 1.2973 was 17-month low last week (April 12)

  • BoE walks tightrope between inflation and recession - Bailey nL5N2WJ74Y

  • USD supported by expectation of aggressive Fed hikes in May, June and July

  • UK PM will face contempt probe, reigniting leadership doubts nL2N2WJ0N9

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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