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GBP/USD falls below 1.22 after UK December retail sales slide
The UK December retail sales numbers have just hit the screens and they have really disappointed. Core sales actually fell by 0.6% last month, where the markets were expecting a 0.3% rise. The annualised run rate has also badly missed on forecasts. The reaction in the Pound has seen it fall versus the Dollar and the Euro, as you might expect. The GBP/USD has fallen back below the 1.22 handle again and that is no surprise given the weakness of this data. The Pound could extend on the downside, if it falls below 1.2175 from here on. The GBP/USD is right now at 1.2189
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