U.K Retail Sales rose to 0.2 % pushing Sterling to rebound




U.K Retail Sales rose to 0.2 % pushing Sterling to rebound

June 18th 2015

  
The British Pound recovered significantly hitting 7 months against the U.S Dollar to trade above $1.5920 after the release of upbeat economic data which showed that U.K Retail Sales increased to 0.2% during the month of May. While the Core retail sales rose 0.2% last month higher than expectations for 0.1% rise. On the other hand the greenback extended losses as the Fed has fueled expectations for an interest rates hike this year. And “Janet Yellen “has also lowered U.S growth forecast. but she confirmed that the economy has expanded moderately.

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