18.09 - GBP/USD remains below 1.30
- by George Solotarov
GBP/USD kept its recovery mode intact around 1.2970, as the pound shrugged-off mixed UK macro news. The spot now trades modestly flat on the day, having reversed from daily lows of 1.2941.
The UK retail sales came in at +0.8% over the month in August vs. +0.7% expected and +3.6% previous. The core retail sales, stripping the auto motor fuel sales, stood at +0.6% MoM vs. +0.4% expected and +2.0% previous. On an annualized basis, the UK retail sales stood at +2.8% in August versus +3.0% expected and +1.4% prior while the core retail sales rose by 4.3% in the reported month versus +4.2% expectations and +3.1% previous.