The dollar was looking slightly weaker against the pound yesterday, despite positive data releases. It is still weak this morning as investors are hoping for more financial stimulus measures to be introduced this month.
Retail sales in the US surged 7.5% month-on-month in June, following an 18.2% rise in May. Figures beat market forecasts of a 5% gain as more businesses reopened.
Meanwhile, the Philadelphia Fed Manufacturing Index in the US decreased to 24.1 in July of 2020 from 27.5 in June but came in above market forecasts of 20. This index measures the change in overall business activity and factory-sector growth.
Today, consumer sentiment figures will be released for the US.
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