Better than expected headline numbers in the UK, but disappointing revisions: retail sales are up 0.2% m/m,. but rose only 0.9% in April, contrary to 1.2% originally reported. This means the y/y rise is 4.4%, below expectations. Core sales rose 0.2%, also above expectations and but also with a downward revision that puts y/y growth at 4.6%, below expectations.
GBP/USD focuses on the recent data and rises. The new high is 1.5928. Will we see 1.60 soon?
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