John Lewis reports that sales for the week to October 10. rose by a hefty 13.3% compared to a year ago.
The company added a note of caution though, saying “we need to maintain balance and perspective; we are up against soft figures from the height of last year’s finance sector turmoil and also have the added contribution of our stunning new shop in Cardiff.”
Cable had been slipping slightly in early European trade, but at writing is recovering it’s poise, presently back up at 1.6355.
Fundamentally sterling is garnering support from the perception that the Old Lady could be about to pause it’s QE programme. Flow-wise, hedge funds have been aggressively covering various short sterling positions. Elsewhere Goldman’s sees sterling headed to 1.7000.
