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GBP/USD just off session lows as UK retail sales data awaits shortly

At 6am GMT the UK will release its March Retail Sales report. Now usually this would be a headline event, but given the news in the markets concerning the Middle East this morning, it is highly possible there will be less focus on this data. That is not a certainty though and it could depend on whether the UK sales are really wide of the mark. Earlier the GBP/USD fell back to below 1.24 again, as the a rush to the dollar as a haven sent the Pound reeling. The low seen was set at 1.2389. Yesterday the GBP/USD had topped out at  1.2485 and was already falling back into the US close, where it later ended that session at 1.2436. The UK sales are expected to bounce back in March, but right now it is surely going to take a very sizeable increase to push the Pound back towards the 1.25 handle. Conversely a weak number may only serve to underpin the dollar further and put the UK currency under further pressure. The GBP/USD is just off that earlier low as that sales data awaits shortly. The GBP/USD is just now trading at 1.2412

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