• Prior -9

That’s a worrying sign as UK retail sales fell at its fastest pace since April last year. Adding to the woes is that stores are bracing themselves for worse times ahead, with many chains reportedly cutting orders placed with suppliers. Of note, the expectations for the month ahead reading fell to -32 from 0 previously, marking the lowest reading since March 2021. It’s not the biggest of data points but this is one that is an indicator of sentiment and what is to come, and it isn’t looking good for the UK and the pound.

This article was written by Justin Low at www.forexlive.com.