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GBP/USD close to session highs as US Retail Sales loom
At 1.30pm GMT the US will release the November Retail Sales report. The markets are expecting headline sales (including autos and fuel) to rise by around 0.5%. It is worth noting this data includes Black Friday sales too. That can sometimes throw up a surprise and according to earlier reports those sales were quite buoyant this year- rising by 3.4% on last year. So, the dollar could react way, depending on what the broader sales data throws up. Ahead of this the Pound is still grinding higher and reacting positively to the higher UK wage data seen earlier this morning. The GBP/USD is close to session highs (1.2708) just now and perhaps if there is disappointment in the US sales data it might show up in this pairing.
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