//
While not traditionally associated with football, Forex traders have seen the currency rise due to increased electronics sales in the run up to the World Cup, reports Reuters.
High stock market demand for national debt also restored a measure of confidence to speculators who feared eurozone deficits would cause share prices to plummet.
The spread between Spanish and German benchmark bonds narrowed after strong interest in government auctions, easing the concerns of some investors, reveals the news agency.
As a result, sterling rose to a near one-month high against the dollar, up 0.5 per cent at 11:08 BST to $1.4806.
Some observers were optimistic about the market performance.
Vicky Redwood, economist at Capital Economics, commented: "The figures are still rather stronger than the retail surveys had suggested. And sales in Q2 overall remain on course to show a strong rise, which in turn should help overall GDP to post a decent expansion."
September gilt futures did not fare so well, halving earlier gains to stand 10 ticks higher at 119.17.
Posted by Greg Secker
