UK retail sales for April came in at +0.9% m/m, +2.6% y/y, better than median forecasts of +0.5% and +2.4%. Does anyone care, in a word no.
Cable continues to slump in the wake of the news that S&P have revised their outlook for the UK to negative from stable. We’re presently down at 1.5530, no one so far wanting to catch the falling knife.
