Sterling goes up amid retail data
On Thursday, the British pound managed to extend its early profit against the evergreen buck and the common currency, following data, according to which, in April British retail sales surged, notwithstanding a steep dip in clothing sales, that might have been caused by unseasonable weather.
According to the Office for National Statistics, in April, the UK’s retail sales went up 1.3% in April, above economists’ predictions for a surge of 0.5%.
March’s figures have been revised to demonstrate a 0.5% sag, a much smaller dive than the initial forecast of 1.3%.
On a year-over-year basis, retail sales volumes soared 4.3%, according to the report.
Sales of most items went up, but clothing sales sank by 6.3% the ONS told, maybe because of April’s cold weather, affecting sales of summer clothes.
The currency pair GBP/USD grew 0.32%, trading at 1.4645.
The British pound got to the highest peak in three-and-a-half months against the common currency – the currency pair EUR/GBP sagged 0.3%, trading at 0.7661.