British Pound Advances Even as Retail Sales Fails to Impress, Euro Hits Fresh Yearly High (Daily FX)
Posted on September 17, 2009 at 4:25 am in Forex
The British pound advanced against the U.S. dollar for the second day but, the overnight rally was tempered as U.K. retail sales unexpectedly held flat in August, and the slump in private-sector spending paired with the rise in unemployment may drag on the exchange rate going forward as investors weigh the prospects for a sustainable recovery.
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