A bitter disappointment for the pound: UK retail sales fall 0.5% instead of rising 0.4%. The revision is also negative with 0.6% instead of 0.7% originally reported. Year over year, we have a rise of only 4.2% against 5.4%. Core sales rose only 0.2% instead of +0.4% with y/y up 5% below 5.4% expected.
GBP/USD is extending its falls below 1.50 and reaches 1.4965.
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