The GBP/USD pair continues growing on Thursday; the published statistics on the Retail Sales was good.
On Thursday, the British Pound is slightly growing against the USD. The current quote for the instrument is 1.2500.
The statistical report published today showed that the Retail Sales in the country in February expanded by 1.4% m/m after losing 0.4% m/m in January and against expectations of adding just 0.4% m/m. On YoY, the indicator increased by 3.7% after adding 1.0% the month before. The components of the report showed that the Retail Sales excluding Fuel in February added 1.3% m/m.
The CBI Distributive Trades in the UK in March is 9, the same as in February, which is by 4 better than expected, and judging by the numbers one might say that consumers are pretty confident.
With this background, the Pound is feeling quite well and continues getting more expensive. However, people from Westpac say about possible oncoming risks for the Pound: as soon as the Brexit negotiations start, the national currency will resume moving downwards. Confidence indexes are still of a great importance, both consumers and business, along with the inflation parameters. All these things taken together will define the policy of the Bank of England relating to the future actions.
The GBP/USD pair is moving inside the long-term trading range between 1.21 and 1.28 and is expected to stay there as long as the Article 50 is not activated.
RoboForex Analytical Department