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GBP/USD stalls below 1.3400 as USD firms and UK inflation cools
TD Securities expects Canadian May retail sales to rise 1.1% month on month, slightly above consensus, after gasoline price lift and a core spending rebound.
GBP/USD remained below 1.3400 in European trading, with the pair's rebound held back by a modest US dollar bounce and cooler-than-expected UK inflation, according to FXStreet.
The update tied the upside cap to shifting rate expectations, with escalation of Middle East tensions also cited as part of the broader backdrop influencing risk sentiment.
In parallel, EUR/USD stayed above 1.1400 for a second straight day, as investors looked ahead to the European Central Bank interest rate decision.
TD Securities also flagged Canadian May retail sales expectations for the next data point, projecting a 1.1% month on month rise, slightly above the 1.0% consensus, supported by higher gasoline prices and improved core spending.
Latest closeGasoline (RBOB) $3.293 ▼3.3%|EUR/USD 1.141 ▼0.0%|GBP/USD 1.338 ▼0.4%