GBP – Retail Sales Could Move Sterling

The Sterling turned in a rather flat trading session while losing a bit of ground to the USD on faltering sentiment. Today will be a big day of data from the U.K. with Retail Sales and CBI Industrial Order Expectations. Both sets of numbers will be watched by investors with the knowledge that recent publications from the U.K. have been at best a mixed bag. There is plenty of talk that the government is going to revise existing growth expectations downward in the coming weeks and because of this ‘the market’ has been braced for bad news. The GBP was able to gain earlier this week with increased risk sentiment, but this may have been a short term move within a trend that has put the Sterling under pressure.

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