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Much better than forecast UK Retail Sales fail to excite the GBP/USD immediately

The UK May Retail Sales report, along with a batch of other UK data on Government borrowing has just hit the screens. The major focus is on UK sales though and those were expected to show a significant rebound last month, rising by around 1.8%, from a prior monthly fall of 2.3%. Sales have actually risen by 2.9% and that is quite a beat. However, and somewhat surprisingly this data has not immediately delivered a rise in the Pound it seems. More usually that surely would have been the case. Perhaps it will eventually, but also we have to factor in that this is not probably going to impact anything on the political agenda right now. The GBP/USD is currently trading at 1.2668

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