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GBP: sterling maintains tight range

By Ricky Bean June 7th, 2017

It was a pretty quiet day in terms of economic data from the UK. Much of the focus understandably remained centred on the weekend’s atrocities and the forthcoming general election. The main topics for discussion are policing numbers and the Brexit negotiations, as Boris Johnson launched a scathing personal attack on Corbyn.

The British Retail Consortium sales monitor was released in the early hours of the morning and showed that sales had slowed. Probably more worryingly, was that online sales growth was ‘muted’. The headline figure shows that retail sales decreased slightly in May, as a six-year low in non-food sales offset a strong month for supermarkets.

Theresa May took part in a television interview on ITV in which she claimed the naughtiest thing she has ever done is run through fields of wheat. Apparently the farmers weren’t too happy about that.

Looking to the day ahead, it’s another quiet day for economic data, but the focus will stayed trained on tomorrow’s general election.