The pound is trading at its lowest level in four weeks

The pound traded during the session on Friday near the lowest level in four weeks and hit yesterday, this comes under the British pound failed to take advantage of the low dollar levels after negative US data.

Pair is trading the British pound against the dollar is currently at the level of 1.2967 after recording the highest at 1.3038 while today's session was opened at the level of 1.2956, its lowest level at 1.2942.

Sterling seen weak trading in today's session, unlike other major currencies, and in light of the continued negative pressure on the royal currency after the Bank of England cut interest rates and expand its stimulus.

This has been the dollar fell to its lowest level in a week against major currencies due to the negative impact of lower retail sales data in addition to the decline in the producer price index, but the falling dollar was not able to support a stronger dollar.

Trading the dollar index, which tracks the dollar's performance against a basket of major currencies, is currently at the level of 95.42, after the record lowest level in a week at 95.25 and was opened today's trading at the 95.90 level, recording the highest at 95.99. This comes after the release of US data today which showed a deterioration in the household sector spending on retail sales.