The GBP/USD pair downward trend continued on Monday as investors reacted to the overall risk-off sentiment and the weak UK retail sales data.
Last week, the UK published mixed economic data last week. On Tuesday, the UK published strong jobs data. The numbers showed that the country’s unemployment rate declined to 4.1% in November as the recovery continued.
However, on Friday, the UK published weak retail sales data. The numbers showed that the country’s retail sales declined sharply in December as Christmas spending cooled. Retail sales declined by 3.7% between November and December.
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