020 7898 0500US retail sales rose by 0.6% in July, which was higher than forecast. Analysts had expected an increase of around 0.4%, not least because of two months of decline. However, the 0.2% fall that was posted in June was revised to a 0.3% increase which had some bearing on the actual figure as well as the one forecast.
On the back of the strong US retail sales, economists suggested we could see a strong quarter for the US economy, which should fuel speculation of a Federal Reserve interest rate hike in December.
Meanwhile, inflation figures released from the UK sent expectations of a BoE interest rate hike tumbling and the dollar benefited from this.
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