Sterling hits 2018 lows versus dollar
2018-05-15 18:08:07 GMT (Economies.com)
Sterling hits 2018 lows versus dollar

Sterling fell to December 29, 2017 lows against the dollar following earlier data from Britain and the US, and ahead of a speech by Federal Reserve Bank of San Francisco President John Williams later today. 

 

As of 04:17 GMT, GBP/USD fell 0.36% to 1.3507 from the opening of 1.3556, with an intraday high at 1.3572, and the lowest this year at 1.3451. 

 

Earlier UK data showed the unemployment rate steadied at 4.2% in the three months ending March in line with expectations, while average hourly earnings slowed down to 2.6% from 2.8%, missing forecasts of 2.7%, as unemployment claims rose 31.2 thousand, up from a 15.7 thousand increase in the previous reading, while analysts expected a 13.3K addition. 

 

Otherwise, earlier US data showed retail sales rose 0.3% m/m, slowing down from 0.8% in March, and missing expectations of 0.4%, while core sales slowed down as well to 0.3% from 0.4%, missing estimates of 0.5%. 

 

The Empire State Manufacturing Index rose to 20.1 from 15.8 in April, beating forecasts of 15.1, while business inventories were unchanged, compared to a 0.6% rise in March, while analysts expected a 0.2% increase.

 

The NAHB Housing Market Index rose to 70 in line with expectations in May from 68 in April. 

 
 
 
  Symbol Last Change Chg.%
1.1729
0.0036
0.3040%
1.3133
-0.0098
0.7377%
15.518
-0.296
1.875%
68.350
-2.212
3.135%
73.10
0.51
0.70%
1230.600
-10.510
0.847%
 
 
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