by Damian -
Pound Gains a Fourth Day as Retail Sales figures rise more than forecast
Today’s US GDP release is the third estimate for Q4 and so is likely to be seen as old news. The weekly initial unemployment claims data will also be watched closely for further indications of the strength of the labour market.
The pound climbed for a fourth day versus the dollar as a report showed U.K. retail sales increased in February more than three times as much as economists forecast.
Sterling strengthened to a three-week high against the euro.
The euro exchange rate fell for a second day against both the US Dollar rate and GBP as traders assessed whether European Central Bank policy makers will add monetary stimulus amid uneven economic signals.