UK retail sales rise

Retail sales in the UK rose by more than anticipated in June following May’s weak figure as data emerged from the Office for National Statistics.

Stronger sales of household goods, clothing and shoes compensated for a drop off in supermarket sales.

Sterling wasn’t much affected by this, however, with the 3 month trend more useful to economists. The GBP/EUR rate will instead be driven by the ECB rate decision at 12:45 today.