The U.K. consumer confidence dropped in February, falling to -10 from -9 as households’ sentiment in the wider economy and their prospects for major purchases weakened. While the squeeze on household real incomes has begun easing, ongoing Brexit uncertainty is expected to carry on being a drag on confidence.
Furthermore, with seasonal impacts not usually supportive of any rebound in March, the headline balance of the GfK survey is expected to hold around its current level and is likely to have remained at -10, noted Lloyds Bank in a research report.
At 20:00 GMT the FxWirePro's Hourly Strength Index of British Pound was neutral at 3.4165, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -38.196. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest