Pound rises on upbeat retail sales data

By Jeff Davies
Retail Crowd

Sterling rose to the highest level in a week on Thursday after the release of better-than-expected retail sales figures.

Earlier today, the Office for National Statistics said the volume of goods bought in retail sales in the United Kingdom jumped by 3.9% in May compared to the same month a year ago and rose by 1.3% month on month.

The pound gained 0.45% against the dollar to go for 1.3435 at 11:44 am GMT and it was up 0.19% compared to the euro to sell for 1.1364 at 11:45 am CET. Sterling added 0.10 against the yen to change hands for 147.754 at 11:45 am GMT.