Weekly roundup: UK retail sales recovery lifts pound
A solid rebound in February’s UK retail sales data helped to push the pound higher across the board ahead of the weekend.
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A solid rebound in February’s UK retail sales data helped to push the pound higher across the board ahead of the weekend.
The pound rallied on Friday as GBP investors cheered the release of the UK’s latest retail sales release.
The pound mounted a recovery on Thursday as GBP investors welcomed the decision by EU leaders to not place restrictions on vaccine exports.
The pound was on the defensive again on Wednesday in the wake of the UK’s underwhelming inflation figures.
The US dollar trended higher on Tuesday, with the safe-haven currency finding broad support amidst a souring of market risk appetite.
The pound retreated on Monday as GBP investors were unnerved by the prospect of Europe’s coronavirus resurgence impacting the UK.
Demand for the pound picked up in the wake of the BoE’s policy announcement, even though no interest rate hike looks likely for the foreseeable future
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