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The GBP/USD is holding above the 1.2700 handle after US PCE inflation settled further on Friday. UK Retail Sales grew 1.3% MoM in November, beating the forecast 0.4% and rebounding from October’s flat print of 0.0%.
Annualized Retail Sales through November also gained on market forecasts, printing at 0.1% versus the forecast -1.3%. This helped Pound Sterling bidders shake off a miss in the UK Gross Domestic Product figures, which came in below expectations. US data took center stage again on Friday, with decelerating inflation being the key driver, pushing the US Dollar down across the broader market.
US Personal Consumption Expenditure Price Index figures for November showed inflation continues to slow at a faster pace than markets initially expected. US Durable Goods Orders rose 5.4% in November, implying the US economy might not be outright weakening as quickly as rate-cut-hungry investors might hope for.
