GBP/USD extends losses on the second successive day, trading lower around 1.2160 during the Asian session on Wednesday. The upbeat economic data from
GBP/USD extends losses after upbeat economic figures from the United States. US Retail Sales surpassed expectations; Retail Sales Control Group recorded a notable increase. UK CPI is expected to decrease; monthly figures could report a notable increase. the United States exerts pressure on the pair. The US Bureau of Economic Analysis revealed that Retail Sales surpassed expectations of 0.3% MoM, rising to 0.7% in September.
Moderate earnings data from the United Kingdom might have applied downward pressure on the Pound Sterling , contributing to the pressure on the GBP/USD pair. The Average Earnings Excluding Bonus held steady at 7.8% in August, aligning with expectations. However, Pay levels Including Bonus for the same quarter decelerated to 8.1%, compared to the market consensus of 8.3%.
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