Currency Buzz: Pound Off Two Week High, UK Retail Sales Spike Around 12% In January

8 Feb 2022 , 01:00 PM

The British Pound is holding around 1.3500 mark against the US dollar today after hitting a two week high of 1.3600 in last session. The currency did not much of a traction after firm retail sales data. The UK retail sales grew at a stronger pace in January due to the easing of lockdown restrictions, data from the British Retail Consortium and KPMG showed on Tuesday. Like-for-like sales grew 8.1% in January from the previous year. At the same time, overall sales increased 11.9% on a yearly basis in January. However, the dollar index is holding onto gains today, having bounced from a low near 95 mark and is capping gains in other major currencies.

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