Well I never. UK retail sales for January have come in surprisingly strong, up +0.7% month on month (versus consensus forecast of +0.1%) and up +3.6% year on year (versus consensus forecast of +2.1%) Post Christmas sales did the trick, with consumers taking advantage of aggressive price cuts to stock up on clothes, books, CDs etc. Cable has put on around half a cent in double-quick time, presently at 1.4265.