In anticipation of UK Retail Sales, the British Pound falls to a new monthly low near 1.1900

On Friday's Asian session, the pound to dollar exchange rate (GBP/USD) accepted offers to reaffirm its monthly bottom at 1.1905, falling for a third consecutive day on concerns about the UK economy, aggressive Fedspeak, and upbeat US data.

Bloomberg reports that Indonesian President Joko Widodo has invited Chinese President Xi Jinping and Russian President Vladimir Putin to the Group of 20 Summit in Bali later this year. Recent market movement in favor of the US dollar may have this explanation. This was the first time the leader of the world's fourth-most populous nation had announced that both of them will be attending the November conference, according to the news.

August's record low for the GfK Consumer Sentiment Index in the United Kingdom was even lower than July's record low of -41. Following the release of the data, Reuters said, "British consumers are experiencing a'sense of aggravation' about the growing cost of living, according to the country's longest-running research of household finances.

British employment and inflation figures were reported earlier in the week, but this did not help the GBP/USD as the strong US economy and aggressive Fed talk encouraged pair bears.

Weekly Initial Jobless Claims declined to 250K from 265K market consensus and 254K correction, whilst the Philadelphia Fed Manufacturing Survey for August rose to 6.2 from -5 expected and -12.3 before.

The Fed will keep raising interest rates to "right-size" the economy, according to Mary Daly, president of the Federal Reserve Bank of San Francisco. The policymaker indicated that a move of 50 basis points or 75 basis points would be acceptable for the September rate decision. But Neel Kashkari of the Minneapolis Federal Reserve reportedly does not think a recession is happening in the country at the moment. President of the Federal Reserve Bank of St. Louis and self-proclaimed "lifelong hawk" James Bullard is considering a further rate hike of 75 basis points in September. According to Reuters, investors expect a hike to a range of 3.50–3.75 percent by March of next year, based on trade in futures contracts related to the Fed's policy rate. As a result, the Federal Reserve target rate is between 2.25 and 2.50 percent as of right now.

Finally, Wall Street ended with a lackluster performance, putting pressure on S&P 500 Futures, while US 10-year Treasury rates rebounded from their previous day's drop from the monthly high to 2.891% as of press time.

For new guidance, GBP/USD traders will focus on August UK Retail Sales, which are predicted to be -3.3% YoY compared to -5.8% in July.