"Retail was the beating heart of the UK economy in 2016, so with consumer spending expected to slide in the coming months we could see the Pound push lower against both the Euro and the Dollar."
Retail sales for November easily beat analyst expectations as the UK consumer appears determined to give the economy a strong start to the new year.
The evolving Brexit story continues to churn, but in a more favourable direction for GBP of late it would seem.
Pound Sterling is under pressure against the Euro and US Dollar following the release of underwhelming UK retail data.
The August release of UK retail sales data was notable in that it helped propel Pound Sterling into a three week rally against the Euro and US Dollar. What can September’s release offer?
Pound Sterling (GBP) faces another set of headline data today in the form of UK retail sales.
Pound sterling has made a fresh bid for fresh highs courtesy of data that confirms suggestions that that UK economy is slowing down is an exaggeration.
Another set of underwhelming economic stats are released adding to evidence that the UK economy is slowing down.