020 7898 0500Yesterday morning we heard retail sales came in at 0.7%, higher than expectations for the month of July. Over the period May to July, sales rose 2.1%, the strongest three months since February 2015. This comes as a surprise considering the pressure on High Street stores and weakened household spending power as pay growth struggles to outpace inflation.
There is a lack of macro data announcements today for GBP, so barring any major surprises movements may be fairly subdued. Could this be the calm before the storm?
