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UK Retail sales unexpectedly rise- GBP/USD hits fresh session highs above 1.3040
The details of the UK September retail sales report have just hit the screens. Sales have unexpectedly risen, where the markets were anticipating a 0.4% fall last month. Sales actually rose by 0.3%. The annualised pace of gains has also beaten forecasts, rising by 3.9%. The immediate reaction in the Pound is positive and to be honest, given the price action before the release, it looks like this beat may not have surprised all market participants. The GBP/USD has now lifted above 1.3040
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