Positive data fail to support the pound amid political concerns

The positive statements made by the British economy were not enough to push the pound to continue to rise as the day unlike the movement downward in light of the continuing political concerns about Britain’s exit from the European Union.

Released today by the British economy, retail sales data for the month of January comes to the actual reading and witnessing a rise of 2.3% from a previous decline of 1.4%, while the annual index jumped 5.2% from a previous rise of 2.3%.

Political concerns in the financial markets continued on Britain out of the European Union and the obstacles they may face the British economy as a result compared to the benefits that may be obtained, which increases the uncertainty in the markets and push the pound to the instability of the resort to the decline in today’s trading.

On the other hand he pointed out the deputy governor of the Bank of England Cunliffe on Thursday that market expectations postpone raising interest rates until 2019 there is justified especially in light of the economic data published by Britain’s stability.

GBP fell against the dollar in today’s trading, the lowest level at 1.4261 and the session was today opened at 1.4340, currently trading at 1.4280 level.

The markets await today’s release of data on the consumer price index in the United States for the month of January with expectations consistently low monthly index increased by 0.1% similar to the previous reading on the index, essential rise by 0.2% from an earlier high of 0.1%.

Leave a Reply

Your email address will not be published. Required fields are marked *