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Jan 20 - 03:55 AM

GBP/USD - Drops To Intra-Day Low On UK Retail Sales Miss

By Rob Howard  —  Jan 20 - 02:40 AM
  • Cable falls to 1.2355 on worse than expected UK December retail sales data

  • Down 1.0% MM vs +0.5% f/c, down 5.8% YY vs minus 4.1% f/c nL8N345157

  • 1.2355 = intra-day low. 1.2370-1.2398 was Asian session range (pre-UK data)

  • Bids expected pre-1.2300 (Tuesday's high) if GBP/USD falls further

  • 1.2314 was Thursday's low (following Wednesday's 1.2435 five-week peak)

  • Tenth consecutive BoE rate hike from 3.5% expected on Feb 2 nL8N3443RH

Source:
Refinitiv IFR Research/Market Commentary

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