UK pound edged lower against the dollar on Friday tracking good rebound in dollar overseas amid mixed set of US data. DXY, which tracks the greenbacks performance against a basket of six currencies, is up 0.21% at 97.32. Data revealed that the number of Americans filing for unemployment benefits dipped below forecasts, suggesting a strong labour market. However, the S&P Global Manufacturing PMI fell into contraction territory, signaling weakness. Meanwhile, on the domestic docket, UK retail sales fell short of the market expectations. UK retail sales were up 0.9% month-over-month in June after declining 2.8% in May but markets projected a 1.2% rebound in the reported month. Core sales, stripping the auto motor fuel sales, climbed 0.6% on month, compared with the previous revised drop of 2.9% and the expected 1.2% growth. Annual retail sales also came in below expectations. Currently, GBPUSD is quoting lower by 0.21% at $1.3494. On the NSE, GBPINR futures were down 0.19% at 116.78.
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