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GBP/USD near session lows as UK sales data looms
At 7am GMT we will see the December UK sales data. The markets are not expecting a very robust number. Core sales rose by 0.3% in November and that is what is expected for the December data. Now that might surprise, given some sectors for the market enjoyed very good sales last month, but we shall have to see if that does translate into the broader market. Ahead of that, the GBP/USD has been edging back down again. Yesterday the Pound did rebound later in the day and that rebound came into the 4pm London fix. The GBP/USD lifted from a low at 1.2175, to a high at 1.2260. It later closed in the US at 1.2239. The range seen so far this morning has been covered by 1.2206 to 1.2244 and it is towards the lower end of that range just ahead of this sales data. The GBP/USD is currently trading at 1.2209
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