Retail sales in the UK increased

Released data on retail sales in the UK for October significantly exceeded market expectations and amounted to 0.3%. Also, support was provided by the revised values ​​in September. See the details of the report …

But, despite the positive data on the UK, the dynamics of the British pound remains limited due to the recovery of the American and the restrained-positive dynamics of the UK stock indices (FTSE 100 + 0.05%).

As for the euro and the yen, the British pound is more inclined to strengthen, but will also be limited to the dynamics of the British indices. More on cross-rates with the British pound …

At the moment, the pair GBP/USD is squeezed within the previous trading week levels: from 1.3220 to 1.3090. This trading range is likely to continue due to the lack of significant drivers for the movement.

Hanzenko Anton