Sterling edges higher after U.K. retail sales beat expectations
The pound rose slightly after August U.K. retail sales returned to growth, rising 0.5% month over month versus a 0.1% decline expected (WSJ survey) following a 0.5% July decline.
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07:23:36 AM UTC
SquawkNews
UK retail sales bounce back in August
Sterling moved slightly higher after data showed U.K. retail sales unexpectedly returned to growth in August. Sales increased 0.5% in August from the previous month, beating economists’ expectation for a 0.1% decline in a WSJ survey. The reading followed an unrevised 0.5% drop in July.