Pound Sterling continues to retreat from recent highs, helped along the way by UK retail sales data that showed a sharp slump in activity in June.
Just-released wage data are no smoking gun for an August interest rate cut, however Pound Sterling's bullish run could be entering a consolidative phase against the Euro and Dollar.
Pound Sterling Rallies Against Euro and Dollar After Another Services Inflation Surprise
- Category: GBP
Pound Sterling defended its recent gains after UK inflation hit the target in June and left markets none the wiser as to whether the Bank of England would proceed with an interest rate cut in August.
The British Pound rises as it rebuilds its long-lost status as a safe-haven currency.