On Thursday, the GBP to USD exchange rate dwindled from its previous gains ahead of the US retail sales.
The GBP to USD exchange rate declined 0.15% to $1.38 after it hiked 0.22% yesterday.
Consequently, the United States will release its retail sales later this day.
Retail sales posted a forecasted rate of -0.80% month-on-month from the previous record of -1.10%.
Moreover, the core retail sales has a forecasted data of -0.10% and previous reading of -0.40%.
In addition, the US continuing jobless claims has a forecasted hike of 2,785,000 from the previous number of 2,783,000.
In the United Kingdom, the August consumer price index hiked to 3.20% from the previous record of 2.00%.
Accordingly, the core consumer price index climbed 3.10% year-over-year from July’s record of 1.90%. It also came above the analysts’ expectation of 2.90%.
Moreover, the producer price index input increased 0.40% month-on-month from the previous rate of 1.30% and the market forecast of 0.20%.
Consequently, the retail price index edged up 4.80% year-over-year from 3.80%, a modest increase from the forecasted 4.70%.
Meanwhile, the US dollar index, which traces the greenback against other major currencies, rose 0.23% to $92.75.
Accordingly, other currencies mixed against the dollar on Thursday trading.
The CHF currency surged 0.49% to $0.92 as ZAR currency surged 0.57% to $14.49.
Similarly, the NZD currency climbed 0.08% to $0.71 as CAD currency inched up 0.01% to $1.26.
Furthermore, the EUR currency declined 0.42 to $1.18 as the AUD currency plunged 0.26% to $0.73.
Yen to Dollar Exchange Rate Sank as Sterling Fell
Likewise, the yen to dollar exchange rate sank as the GBP to USD Fell.
The Japanese currency weakened 0.01% to $109.36 as Japan released its exports and imports data yesterday.
Accordingly, the August exports declined 26.20% from the previous 37.00%, far from the forecasted 34.00%.
Subsequently, the country’s imports hiked 44.70% from the previous rate of 28.50%.
Then, imports edged higher from the expected reading of 40.00%, which is adverse to the yen.
Also, the Chinese yuan rose 0.21% to $6.44 as the Singapore dollar improved 0.03% to $7.78.
Then, the Indian rupee edged up 0.10% to $73.52 as the South African rand climbed 0.54% to $14.48.