A double dose of good news for the UK.
June retail sales rose +1.2% m/m, +2.9% y/y, appreciably stronger than median forecasts of +0.3%, +2.1% respectively.
June mortgage approvals came in at 35,235, some way above median forecast of 32,300.
Cable jumped from 1.6510 to 1.6540 on the news, where it ran into aforementioned sell orders at 1.6540/50. We’re presently back a touch at 1.6530. Stops noted up around 1.6570. I’ve a sneaky suspicion though, that there could well be some stops just above 50, but no confirmation of such.
