Forex News

UK retail sales advance 1.6% in April

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U.K. retail sales came double analysts’ forecasts in April, reflecting the improvement in household spending at the beginning of the second quarter.  

Retail sales volume surged 1.6 percent last month, compared to forecasts of 0.8 percent increase, following a revised of 1.1 percent drop.

The annual reading showed a 1.4 percent soar, coming above both revised and forecast readings of 1.3 percent and 0.3 percent respectively.

The GBPUSD pair rose to hit a peak of $1.3421, rebounding from the previous session’s tumble when it touched a five-month low of $1.3305.

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