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The dollar rallied on the back of risk-aversion, exacerbated by dismal US data. US Retail Sales fell by 1.1% in July, much worse than anticipated. Upbeat UK employment data fell short of backing Cable that trades near a daily low of 1.3725.
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U.S. retail sales fell in July by more than forecast, reflecting a steady shift in spending toward services and indicating consumers may be growing more price-conscious as inflation picks up - Pacific Union | More Than Trading Market Focus Stocks dropped, while the dollar rose amid concern that the global economic recovery will lose momentum with further shutdowns to contain a fast-spreading pandemic. The S&P 500 snapped a five-day rally. Giants Amazon.com Inc. and Facebook Inc. slid at least 1.7%, while Home Depot Inc. t...