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GBP/USD – British Pound Edges Higher as Retail Sales Sparkle

Thursday, May 24 2018
GBP/USD – British Pound Edges Higher as Retail Sales Sparkle

The British pound has posted slight losses in the Thursday session. In North American trade, GBP/USD is trading at 1.3377, up 0.21% on the day. On the release front, British Retail Sales posted a strong gain of 1.6%, crushing the estimate of 0.8%. Over in the US, unemployment claims jumped to 234 thousand, its highest level in seven weeks.

As well, Existing Home Sales dropped to 5.42 million, well off the estimate of 5.56 million. Friday will be busy, with key releases on both sides of the pond. The UK releases Second Estimate GDP and Preliminary Business Investment. In the US, we’ll get a look at durable goods orders and consumer confidence.

More in this category: « Fed indicates it will let inflation run above 2 percent goal for 'temporary period' Declining Trend in the ifo Business Climate Stopped »

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