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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