January 20, 2023 – Written by John Cameron
STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Slipped as UK Retail Sales Declined
Pound (GBP) Weakened amid Tumbling Retail Sales
The Pound (GBP) stuttered on Friday morning as retail sales printed far worse than expected. Against expectations of a 0.5% rebound from November’s poor figure, retail sales in December declined by 1.0% MoM.
Optimism surrounding the winter World Cup boosting sales were misguided as inflationary pressures forced consumers to cut back on their festive spending. Retail sales fell by 5.8% compared to December 2021, which signalled the greatest drop for any December on…
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