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GBP/USD a little lower after UK sales miss estimates

The March UK retail sales were expected to show an increase of around 0.3% following no gain at all seen in February. Well, that data has just been released and has shown that sales once again did not rise. The reading at zero was disappointing for the Pound. When one looks at the core data it is even worse. Core sales fell by 0.3%. The annualised core rate only rose by 0.4%, where a 1% increase was forecast. The GBP/USD is a touch lower following this data, but in real terms the reaction has been pretty muted so far. The FTSE 100 futures is a little higher though, but the index still faces a very uncertain opening later this morning. There will be more to add on that, but needless to say, right now the UK stock markets (and everything else in Europe too) are facing a lower opening this morning 

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