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UK Retail sales disappoint- GBP/USD hits fresh session lows
The UK October Retail sales report has just been released and it has missed on forecasts. Sales fell by 0.7% last month and the annualised number was below estimates too, rising by 2.4%. This was not what the Pound need and it has slipped on the news. However, not by that much. The GBP/USD fell to 1.2553, but at has been the extent of it so far. Make no mistake though, this was not encouraging data and the prospect of more of the same next month is live. The GBP/USD is still vulnerable, currently trading at 1.2555
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