US Dollar (USD) could strengthen further; deeply overbought conditions suggest any advance may be limited to a test of 148.45. In the longer run, USD could continue to advance, but it is unclear for now if it can reach 149.15, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Pound Sterling (GBP) declines against its major peers on Friday after the release of the United Kingdom (UK) Retail Sales data for August. The British currency weakens even as the Retail Sales data has come in higher than projected.
GBP/USD tumbled backwards on Thursday, falling a little over one-half of one percent and pushing the Pound Sterling (GBP) back below the key 1.3600 handle against the US Dollar (USD) after a brief spat above the major technical level.