We’ve seen this movie before haven’t we? GBP/USD has put in a little sprint to 1.6352 from 1.6325. Are good numbers coming. Mike’s in the “no” camp and I’m middle of the road. I think we may see better numbers on the back of improved optimism, though I agree that heavy discounting may take the shine of retailers profits down the line.
Retail sales can be volatile so if they are good then it may give bears a good level to get in on the pop
