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The good news for the UK is that the retail sales balance is seen rebounding strongly in May. The headline reading is the highest since December 2020. Adding to that, the quarterly measure of selling price inflation in retail is seen slowing to its lowest since August 2020. It will be a welcome relief, if translated to the hard data, after the poor April report as seen here.

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