Pound Declines Amid Dismal U.K. Retail Sales Data
2021年6月18日 - 1:04PM
RTTF2
The pound depreciated against its major counterparts in early
European deals on Friday, after a data showed that the nation's
retail sales dropped unexpectedly in May after a sharp surge in
April when retail restrictions were eased.
Data from the Office for National Statistics showed that retail
sales dropped 1.4 percent month-on-month in May, reversing a 9.2
percent rise in April and confounding expectations for an increase
of 1.6 percent.
Excluding auto fuel, retail sales dropped 2.1 percent after
rising 9.1 percent in the previous month. Sales were forecast to
climb 1.5 percent.
On a yearly basis, the retail sales volume growth moderated to
24.6 percent in May from 42.4 percent a month ago. This was also
slower than the expected expansion of 29 percent.
Sales, excluding auto fuel, logged an annual growth of 21.7
percent versus 37.7 percent expansion seen in April and economists'
forecast of 27.3 percent.
Caution prevailed over the Fed's plans to start tapering its
bond purchase program and an earlier than expected tightening of
monetary policy.
The pound weakened to 1-1/2-month lows of 152.46 against the yen
and 1.3855 against the greenback, off its prior highs of 153.77 and
1.3944, respectively. The pound is seen finding support around
149.00 against the yen and 1.36 against the greenback.
The pound dropped to a 2-day low of 0.8588 against the euro,
after a rise to 0.8543 at 8 pm ET. The next likely support for the
pound is seen around the 0.88 level.
The pound retreated from more than a 2-week high of 1.2799
against the franc, with the pair worth 1.2716. Should the pound
falls further, 1.25 is possibly seen as its next support level.
Looking ahead, Eurozone current account for April will be
published in the European session.
Canada new housing price index for May is set for release in the
New York session.
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