UK Retail Sales figures set to give the pound a poor end to the week (Mike Vaughan)

Mike Vaughan

Today the pound has had a relatively quiet day against the single currency shifting about 0.45% from the high to low with the Euro finding little support following this afternoons consumer confidence figures even though figures were better than forecast. This will bring tomorrows UK retail sales figures to the fore and if as expected could lead to sterling weakness tomorrow morning. Figures are set for release at 09:30 and forecast to fall from 2.6% to -0.9% and if as expected the pound could be set for a difficult day tomorrow. Of course this may have been priced into the market and any improvement could limit sterling’s losses, however tomorrow could see an opportunity for Euro sellers. Also look out for the UK’s public sector net borrowing figures.

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