GBP/USD at Daily Lows on UK Retail Sales

GBP/USD was struggling a little after the UK’s mixed retail sales figures and was trading close to daily lows, around 1.3700.

GBP/USD was fairly unwavering after UK data, showing that Core Retail Sales rose 0.5% in June compared to 0.4% expected and -1.3% previously. On a yearly basis, UK retail sales rose 9.7% in June vs. 9.6% expected.

However, auto fuel sales faltered, which rose modestly by 0.3% during the same month versus 0.6% expected. In addition, the annualized rate also fell short of expectations and rose by 7.4%.

The rise in Covid-19 infections in the UK and the Brexit problems related to the Northern Ireland protocol have also hit the pound.