Forex

Sterling falls after weak economic data

2020-09-18 21:57:40 GMT (Economies.com)

The British pound fell against the US dollar on Friday, following weak economic data, while focus turned to the Brexit talks. 

 

The Bank of England kept the interest rate at 0.10% unchanged in a widely expected move to support the economy amid the coronavirus crisis.

 

The US Democratic presidential candidate Joe Biden said that there would be no good trade deal between the US and UK if it doesn't secure a deal with the EU that respects Northern Ireland peace agreement.

 

Data showed today that the UK's retail sales index rose 0.8% in August, on par with forecasts, but lower than July's reading of 3.7%.

 

As of 21:35 GMT, GBP/USD fell 0.3% to 1.2928, after hitting a high of 1.2999 and a low of 1.2915.

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