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12 Mar 2015
GBP/USD pulls back from daily highs
FXStreet (Córdoba) - GBP/USD stretched to fresh daily highs at the beginning of the American session as the greenback was pressured by disappointing US retail sales data.
US retail sales fell by 0.6% in February, missing by far expectations of a 0.3% increase, while excluding autos, sales dropped by 0.1% versus a 0.5% rise expected. GBP/USD jumped to a high of 1.5025 but failed to hold at highs and pulled back below the 1.50 mark soon after. At time of writing, GBP/USD is trading at 1.4980, still up 0.26% on the day.
Meanwhile, the pound was slightly affected by BoE Carney’s comments, who was speaking at manufacturing research centre in Sheffield. BoE Governor said UK economy has a solid expansion but expressed concerns about downside inflation risks.
US retail sales fell by 0.6% in February, missing by far expectations of a 0.3% increase, while excluding autos, sales dropped by 0.1% versus a 0.5% rise expected. GBP/USD jumped to a high of 1.5025 but failed to hold at highs and pulled back below the 1.50 mark soon after. At time of writing, GBP/USD is trading at 1.4980, still up 0.26% on the day.
Meanwhile, the pound was slightly affected by BoE Carney’s comments, who was speaking at manufacturing research centre in Sheffield. BoE Governor said UK economy has a solid expansion but expressed concerns about downside inflation risks.