In March, retail sales increased unexpectedly in the UK. A report by the Office for National Statistics showed that sales were boosted by stronger food sales and helped by dry weather.
Retail Sales m/m rose by 0.2% in March, after dropping 0.8% the previous month and versus consensus for half a percent drop. Y/Y Retail Sales were in line with the previous month at 1.3% and better than 0.9% forecast.
GBP/USD rose to a daily high of 1.6541 immediately after the stronger sales figures. EUR/GBP on the other hand dropped to a day’s low of 0.8837.
RTFX Ltd (“RTFX”) is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX at the time of preparation. They are thus subject to change without notice. RTFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX or any director, officer or employee.