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Jan 17 - 03:55 AM

GBP/USD - Drops On Unexpectedly Negative UK Retail Sales Data

By Robert Howard  —  Jan 17 - 02:26 AM

• Cable falls to 1.2169 on unexpectedly negative UK retail sales print

• UK retail sales down 0.3% MM in December; increase of 0.4% was forecast

• 1.2169 is lowest level since Wednesday. 1.2206 was Asia low, pre-UK data

• Negative retail sales data underpins expectation of BoE rate cut on Feb 6

• GBP/USD support points include 1.2155 (Wednesday's low), 1.2140 and 1.2100

• 1.2260 was Thursday's high, after dovish guidance from Fed's Waller hurt USD

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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