Pound unruffled as BoE sticks to script, retail sales support sterling

Thursday, 20 December 2018 20:03 WIB



Sterling was largely unmoved on Thursday after the Bank of England kept interest rates on hold and warned about the risks of a no-deal Brexit, the British currency trading higher thanks to better-than-expected retail sales and a weaker dollar.

The BoE said on Thursday that Brexit uncertainty had 'intensified considerably' over the last month and that falling oil prices were likely to push inflation below its 2 percent target soon.

Sterling remained 0.6 percent firmer at $1.2684 after the BoE decision.

The pound had earlier risen to as high as $1.2707, helped by strong retail sales growth and a dollar that weakened across-the-board on growing concerns that U.S. policymakers may be raising rates just as the world’s biggest economy faces a slowdown.

Against the euro, the pound was 0.2 percent lower at 90.380 pence.

Source: Reuters


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