Pound dropped as Boris Johnson’s health got worse
UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
Is the GBP vulnerable to the retail data?
Information is not investment advice
Great Britain will release the retail indicators at 11:30 MT time, on February 20.
Instruments to trade: GBP/USD, GBP/JPY, EUR/GBP
The indicator of retail sales shows the monthly change in the value of inflation-adjusted sales at the retail level. It helps to understand how much money consumers spend, that is, how economically active the population is. A higher level of indicator increases the value of domestic currency. Last time the level of retail sales declined by 0.6%. The disappointing release increased concerns over the negative impact of Brexit. As a result, the British pound weakened.
• If the actual level of retail sales is higher than analysts’ expectations, the GBP will rise;
• If the actual level of retail sales is lower than analysts’ expectations, the GBP will fall.
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