020 7898 0500Yesterday news still very much focused on Wednesday’s terror attack in Westminster. Sterling, however, saw some positive news.
UK retail sales data came in well above expectations, after three months of consecutive decline which had represented the biggest slide in retail sales in nearly seven years. Much of this was attributed to higher fuel prices and eroding incomes. The headline figure for February was up by 1.4% and 3.7% year on year which helped calm fears that we would see a sharp decline in consumer confidence.
As a result, sterling strengthened to a one-month high against the US dollar.
Concerns remain surrounding the above-target inflation figure, which was released earlier in the week. Inflation is set to remain higher for some time, with many retailer stating recently that prices would go up, so consumer confidence will continue to be closely monitored by the markets.
On the calendar for today we have only the BBA mortgage approvals figures.
