Sterling Rises on Strong UK Retail Sales Data
The pound edged higher as UK retail sales unexpectedly increased in August by zero point five percent. The positive economic data adds pressure on the Bank of England to consider raising interest rates.
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GBP/USD ticked up 0.1% to $1.337 on Friday morning after United Kingdom retail sales volumes rose 0.5% in August. The rebound follows an upbeat streak of domestic data increasing pressure on the BoE. Analysts anticipated a 0.2% contraction for the month.
