GBP/USD: UK Retail Sales

The British Pound traded sideways against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT. The GBP/USD exchange currency rate gained 8 pips or 0.07% right after the release. The British Pound continued trading at the 1.2085 level against the Greenback.

The Office for National Statistics released the UK Retail Sales data, which came out better-than-expected of 0.2% compared with the forecast of negative 0.3%.

According to the official release: "Non-store retailing was the largest positive contributor on the month, with the amount spent and quantity bought contributing 0.6 and 0.7 percentage points respectively. In contrast, non-food stores were the largest negative contributor in July 2019, with the amount spent and quantity bought both at negative 0.6 percentage points."