Bloomberg News

Pound Advances Against Euro After Data Shows Retail Sales Rise

August 16, 2012

The pound advanced against the euro and erased a decline versus the dollar after a report showed U.K. retail sales unexpectedly rose in July.

Sterling was 0.1 percent stronger at $1.5704 at 9:33 a.m. London time, after weakening as much as 0.3 percent before the report. It advanced 0.2 percent to 78.21 pence per euro.

Sales including auto fuel gained 0.3 percent from June, the Office for National Statistics said today in London. The median forecast of 22 economists in a Bloomberg News survey was for a 0.1 percent decline.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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