The U.K. Office for National Statistics reported today that country’s retail sales increased unexpectedly in January despite economists’ expectations for lower reading (down by 0.2%)
Retail sales grew by 0.9%, right after 0.6% improvement in previous month.
Today’s positive reading as well as slowing down inflation might indicate recover of British economy in first quarter of 2012.
Following news release GBP/USD was traded at 1.5842.
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