The Pound Sterling (GBP) experienced a notable decline against its major currency counterparts on Friday, as disappointing UK Retail Sales data for October weighed heavily on market sentiment. The GBP/USD exchange rate fell sharply, reflecting a loss of confidence among traders. The currency pair hovered around 1.3210, down approximately 1.5% as investors reacted to the grim statistics.
Adding to the negative outlook, the preliminary S&P Global Purchasing Managers’ Index (PMI) data for November also fell short of expectations, further exacerbating concerns about the UK's economic resilience. In response, the GBP/EUR pair slipped to 1.1575, highlighting the increasing pressure on the Pound as traders adjust their positions amid a challenging economic landscape. The current trading environment suggests that the UK economy may face prolonged hurdles, creating headwinds for the Pound in the near term.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 10:44
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.