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Sterling recovers from lows, helped by strong retail sales

Thursday, 18 July 2019 16:30 WIB pound Sterling, Poundsterling

The British pound rose on Thursday after stronger-than-expected retail sales numbers and as traders betting against the currency took some profits following this week's plunge, which came amid new concerns about the threat of a no-deal Brexit. British retail sales rebounded unexpectedly in June, rising 1% over the previous month, according to official data. A Reuters poll of economists had forecast a month-on-month retail sales contraction of -0.3%. Compared with June 2018, sales were up by 3.8%, stronger than all forecasts. Several economists have predicted the UK economy shrank in the second quarter but the strong retail sales numbers may raise hopes that the economy kept...

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