According to Stuart Bennett, head of G-10 currency strategy at Santander, the miss in UK retail-sales data may add to doubts over the future path for Bank of England monetary policy.
Now, if we take the three data point missed that we have pointed out earlier, he makes a helpful point that if even if the weak data doesn't dissuade a UK interest rate hike, it may mean a dovish hike. A fair point and likely to weigh on GBP/USD especially if/when it approaches the key Brexit levels of 1.4500 and beyond
Interestingly he too notes that GBP/USD is holding up remarkably well - but us readers of forexlive are not surprised now are we, lol...As we all know our strong seasonal GBP/USD trade!
