15 days ago • Posted by Ajmir Omid

#pound tumbling #GBPUSD #GBPCHF #trading #FX

Sterling is coming under heavy selling pressure following disappointing retail sales results. The island reported retails declining by -1.6% MoM (vs -0.5% forecasted). Car registration too fell by 38% MoM, showing a slowdown in overall demand. The weakness comes amid higher spending pledged by the new Prime Minister Liz Truss.