Disappointing UK retail sales figures weigh on the British Pound, pushing GBP/USD to near 1.3420 in early trading.
The British Pound extended losses against the US Dollar, falling below 1.3450 to near 1.3420 during early European trading on Friday. The decline follows weaker-than-expected UK retail sales data, which underscored concerns over economic growth.
Prior to the release, the GBP/USD pair had shown resilience above 1.3450, but the disappointing figures reversed gains. Analysts had anticipated a modest improvement in retail activity, making the downturn more pronounced.
The move reflects broader market sentiment, with investors reassessing the UK’s economic outlook amid persistent inflation and tightening monetary policy.