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.
