The negative fundamental factors are further stacking up against GBP, which have again started to weigh on the currency.
On Friday, British retail sales plummeted by a record amount in April, contracting a whopping 18%, with many stores closed amid the coronavirus outbreak. Separately, Britain’s government borrowed more in April than it has in any month on record, seeing the public debt being driven close to 100% of gross domestic product, the highest since 1963.
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