GBP/USD holds above 1.3500 mark, tepid economic cues can gains
British Pound is attempting to hold above 1.3500 mark though tepid economic cues and lax equities are capping the currency. The GBP/USD pair has moved up from four-week low near 1.3430 mark in last week. Gains have been moderate but the tendency of the counter to sustain above 1.3500 level is turning supportive as it nears one-week high. The pair currently trades at 1.3518, up 0.12% on the day. Meanwhile, UK retailers reported a sharp decline in sales in February due to poor weather conditions, the Distributive Trades Survey results from the Confederation of British Industry showed on Tuesday. The retail sales balance eased to -43 percent in February from -17 percent in January. This can likely cap advances for the GBP/USD pair. On NSE, GBP/INR futures are currently quoting at 122.95, up 0.25% on the day.
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