The UK has published retail sales data that significantly affects the GBPUSD movement.<\/p>\n
Retail sales for December reported a decrease of -0.3% month-on-month<\/em> (MoM), which is worse than the forecast<\/em> from Trading Central and the previous month’s figure of 0.2% MoM.<\/p>\n Following this release, the GBPUSD dropped to 1.21812, marking a daily low.<\/p>\n This data adds pressure to the sentiment surrounding GBPUSD, which had already been under strain after a member of the Monetary Policy Committee of the Bank of England (BoE), Alan Taylor, stated that interest rates need to be lowered 5 to 6 times this year to avert a deeper economic downturn.<\/p>\n The BoE is now expected to reduce interest rates at the beginning of February, further casting a shadow of negativity over GBPUSD.<\/p>\n","protected":false},"excerpt":{"rendered":" The UK has published retail sales data that significantly affects the GBPUSD movement. Retail sales for December reported a decrease of -0.3% month-on-month (MoM), which is worse than the forecast from Trading Central and the previous month’s figure of 0.2% MoM. Following this release, the GBPUSD dropped to 1.21812, marking a daily low. This data […]<\/p>\n","protected":false},"author":4,"featured_media":35285,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142,5173],"tags":[5176],"class_list":["post-35286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trading-analysis","tag-gbpusd"],"yoast_head":"\n