GBPCHF Exchange Rate

The pound firmed against its major counterparts in the New York session on Monday, amid fading expectations of a rate cut from the Bank of England in June.

UK retail sales declined more than expected in April as poor weather reduced footfall, official data revealed on Friday. Meanwhile, a monthly survey conducted by the market research group GfK showed that British consumer sentiment strengthened in May as households' became more optimistic about future personal finances and general economic outlook.

The British pound weakened against other major currencies in the European session on Friday, after data showed that U.K. retail sales declined more than expected in April as poor weather reduced footfall.

The British pound weakened against other major currencies in the European session on Friday.

There has been evidence of an increase in optimism among FX investors regarding the GBP. Bearish sentiment, which surrounded the GBP over the past years, is revived out of a slight relaxation in cost-push inflation and the expectation of political stability to emerge after the general election this autumn.

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