GBP plummets due to retail sales

Source: Dukascopy Bank SA


At 06:00 GMT, the UK statisticians revealed that the monthly retail sales had declined in the UK by 1.4% instead of the expected 0.3%. Namely, there is a lot less demand for the GBP in the local economy.

The GBP/USD reacted to the news with a drop of 115 base points or 0.88% in an hour and half after the release.

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