{"id":78706,"date":"2023-01-20T19:32:24","date_gmt":"2023-01-20T15:32:24","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=78706"},"modified":"2023-01-21T02:41:09","modified_gmt":"2023-01-20T22:41:09","slug":"gbp-slides-on-weak-retail-sales-data","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gbp-slides-on-weak-retail-sales-data\/01\/20\/market-updates\/","title":{"rendered":"GBP slides on weak retail sales data"},"content":{"rendered":"\n<p>The British pound fell on Friday after weak retail sales data reminded investors about the gloomy outlook for the British economy.<br><br>Sterling was down 0.26% against the dollar at $1.236. That was below a $1.244 peak touched on Thursday, which was itself not far off the highest level since October 2022. At the time of writing, the GBP\/USD pair is trading at 1.2374 versus the previous closing rate at 1.23875.<br><br>The euro was up 0.29% versus the pound to 87.69 pence, having hit a one-month low of 87.22 pence on Thursday. Data released Friday showed that British consumers unexpectedly cut back their spending in December.<br><br>Retail sales volumes fell 1% compared to November, in a sign that inflation and interest rate hikes are hitting consumers hard. It was a far worse performance than the 0.5% increase economists had been expecting.<br><br>The pound has risen around 2% against the dollar this year, with investors hoping that falling U.S. inflation means the Federal Reserve&#8217;s interest rate hikes &#8211; which sent the greenback soaring in 2022 &#8211; might soon end.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound fell on Friday after weak retail sales data reminded investors about the gloomy outlook for the British economy.Sterling was down 0.26% against the dollar at $1.236. That was below a $1.244 peak touched on Thursday, which was itself not far off the highest level since October 2022. At the time of writing, &hellip;<\/p>\n","protected":false},"author":13,"featured_media":72810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6870,9822],"class_list":["post-78706","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gbp","tag-retail-sales-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=78706"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78706\/revisions"}],"predecessor-version":[{"id":78731,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78706\/revisions\/78731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72810"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=78706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=78706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=78706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}