Forex - Pound dips below 2 usd after mixed UK retail sales data |
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Fri, 20 Apr 2007 10:17
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LONDON (Thomson Financial) - The pound slipped back below the 2 usd level in the wake of mixed UK retail sales data.Sterling dipped sharply on the news that retail sales in the UK rose 0.3 pct month on month in March, below analysts' expectations and also slower than in February. A year-on-year gain of 4.8 pct was slightly above expectations.The pound hit a low of 1.9988 usd shortly after the data was released, before rising to settle at a whisper above the threshold level.The reaction is an indication of how trigger-happy the market has become since the pound cracked the 2 usd barrier earlier this week, on the back of strong inflation figures.alex.brittain@thomson.comabr/vlbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Forex - Pound strengthens after robust UK retail sales data 