Source: ForexYard
A report out of the UK Office of National Statistics this morning revealed a surprise uptick in retail sales across Great Britain this month. Analysts were expecting zero growth in consumer spending on retail goods and services, but the actual figure has so far helped spur some optimism among traders.
The unexpected jump in retail sales from last month’s contraction of 0.3% to this month’s surprise expansion of 0.6% is helping to further the bullish gains of the British pound (GBP). Should tomorrow’s public sector net borrowing figure reveal further growth in spending, we could see the pound run strongly bullish before the week closes.
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