The British Pound rises 0.8% for the week, shrugging off weak UK retail sales amid broader USD declines.
The GBP/USD pair climbed toward 1.3660 on Friday, approaching six-month highs as the US Dollar faced broad selling pressure. The move came despite downbeat UK retail sales data, which failed to dent Sterling’s momentum.
Earlier reports showed UK retail sales underperformed expectations, but the Pound’s gains were driven by a softer USD rather than domestic economic strength. The pair is set to close the week up 0.8%, extending its recent rally.
Market focus remains on relative monetary policy outlooks, with traders pricing in potential Fed rate cuts later this year while assessing the Bank of England’s next moves.