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UK November Retail sales rise less than expected- GBP/USD steady so far and here is why
The important UK November retail sales numbers have just hit the screens. As noted here earlier this morning, the markets were looking for an increase in sales from October last month, expecting a rise of around 0.5%. Ahead of this data, the GBP/USD was lifting from the lows (1.2476) and edging back above the 1.25 handle. This sales data has slightly disappointed, rising by just 0.3%. The latest Government borrowing data, released at the same time is much better though and that is a positive and helped to brace any reversal in the Pound so far. The GBP/USD is currently trading at 1.2502
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