GBP/USD Steady as Britain Prepares for Early General Elections - Forex News by FX Leaders
GBP/USD trading bullish in anticipation of general elections

GBP/USD Steady as Britain Prepares for Early General Elections

Posted Friday, November 15, 2019 by
Arslan Butt • 1 min read

Early on Friday, the Pound is trading steady against the US dollar after edging higher over a weakness in the greenback earlier this week. At the time of writing, GBP/USD is trading at around 1.288.

The pound continued to trade strong, unaffected by the release of UK’s retail sales figures for October on Thursday. According to the ONS, retail sales rose 0.2% in the three months to October, the slowest pace of growth since April 2018. The overall quantity bought in October 2019 declined by 0.1% MoM, with growth seen only in sales at fuel and department stores during this period.

Meanwhile, campaigning for the general elections on December 12 is heating up, with Brexit Party leader Nigel Farage stating his intentions to challenge Johnson’s Conservative Party in the remaining seats, other than the 317 where he has said that his party will stand down against the Tories. Farage has stated that he is not keen on entering a pact with the ruling Conservatives but wants to focus on getting Brexit done right.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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