UK retail sales on the agenda today

<p>Happy Friday, everyone!</p><p>Major currencies are little changed so far today, after the dollar strengthened considerably in US trading yesterday. The moves came after the lapse of the large option expiries but it also coincided with some heavy selling in tech stocks and a surge higher in Treasury yields during the session.</p><p>Of note, USD/JPY is testing waters back above 140.00 and EUR/USD has slipped back below the 1.1200 mark as well as its 200-week moving average of 1.1182 currently. Those will be key levels to watch before the weekly close today.</p><p>Looking ahead to Europe, markets are holding in a more tepid mood for now. That might not change much but the pound will be a focus point as we do have UK retail sales on the agenda. Another poor reading there could really accelerate the downside pressure and firm up the odds for a 25 bps rate hike next month by the BOE.</p><p>0600 GMT – UK June retail sales data</p><p>That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.</p>

This article was written by Justin Low at www.forexlive.com.