# Sterling rises despite weak UK data. Let's Look At GBP/USD Chart | Oanda| FXMAG.COM

> The pound rose despite weak UK retail sales, which fell 0.5% month on month in May and 4.7% year on year. Inflation reached 9.1% in May, consumer confidence stayed deeply negative, and the BoE was expected to see inflation top 11% later in the year.

- Date: 2022-06-24 · published 2022-06-24T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/41202-sterling-rises-despite-weak-uk-data-let-s-look-at-gbp-usd-chart-oanda-fxmag-com
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Weak UK consumer demand and a rising cost of living are macro headwinds, but the sterling move itself has little direct effect on feed commodity prices. The relevance to buyers is general macro risk.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- fxmag.com: https://fxmag.com/forex/sterling-rises-despite-weak-uk-data-let-s-look-at-gbp-usd-chart-oanda

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.