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UK Retail sales beat forecasts- GBP/USD yet to react much
The eagerly awaited UK March Retail Sales report has just hit the screens. As noted the markets were expecting sales to have fallen last month, by 0.5%. Well, they have actually risen by 0.5% and that is quite a positive surprise. Just ahead of this report the Pound was hitting fresh session lows versus the US currency, at 1.3274. The Pound has lifted on this news, but in truth the reaction is not exactly dynamic. That is a surprise, but the Pound may yet improve on that immediate reaction. We shall see. The GBP/USD is right now at 1.3280
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