GBP/USD at Lowest Since August, GBP/JPY Near Record Since 2010
The Great Britain pound fell to the lowest level since August against the US dollar even as domestic fundamentals were supportive for the currency. The sterling traded near the strongest rate since January 2010 versus the Japanese yen.
British Retail Consortium reported that like-for-like retail sales grew 1.9 percent in January after the 0.3 percent increase in the prior month. The Markit/CIPS UK Services PMI advanced from 48.9 in December to 51.5 in January, returning to the expansion territory and surprising analysts who have expected no change. The data was good, but that did not help the sterling against the greenback.
GBP/USD sank from 1.5759 to 1.5654 as of 23:22 GMT today. Meanwhile, GBP/JPY advanced from 145.55 to 146.59.
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Earlier News About the Great Britain Pound:
- Sterling Strong Even as UK Construction Declines (2013-02-04)
- GBP/USD Drops as UK PMI Falls, GBP/JPY Highest Since 2010 (2013-02-01)
- Sterling Rises with Consumer Confidence & House Prices (2013-01-31)
- UK Pound Finds Respite for Now (2013-01-29)
- Sterling Weak as Britain's House Prices Stall (2013-01-28)