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GBP/USD lifts as UK sales beat forecasts in January

The January UK retail sales report has just been released. As noted a little earlier, the markets were expecting UK sales to bounce back in January, from a 3.2% decline in December. They have actually beaten the forecast and by some margin too. Sales rose by 3.4% in January. The GBP/USD has risen immediately on this news, reclaiming the 1.26 handle 

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