Sterling data set to improve? (Steve Eakins)

Yesterday there were 15 economic reports released for the UK and most came out as expected, resulting in little movement for the strength of sterling in early trading.

There was a surprise improvement from the Retail sector which has increased forecasts for the Retail Figures which are released on Thursday at 9:30 (Retail equates to over 60% of the GDP for the UK). Pound sellers may wish to wait for this release as it may provide a better picture.

Longer term I agree with most financial analysts that there is a real risk of a Triple Dip Recession in the UK. Only yesterday we saw another retailer, HMV fail, which follows Jessops
making a total of nearly 6,000 people unemployed this year already. Put this with sluggish industrial performance, shrinking manufacturing and I really struggle to see anything better than near zero growth in 2013.

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