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According to Reuters, sterling briefly hit a day's high against its US counterpart after there were stronger than expected figures in the retail industry.
The pound was up to $1.5606 from around $1.5580 prior to the statistics being released, which may interest forex traders.
The sales results in November displayed a 1.1 per cent rise on the year, more than the 0.7 per cent increase previously forecast.
What's more, a Bank of England survey showed Britons believe inflation will rise to 3.9 per cent in the forthcoming year, which is more than any time during August 2008.
This comes after the pound moved down one per cent against the dollar yesterday, its lowest level versus the US tender since the beginning of December, the news provider reported, following the release of better than predicted US manufacturing data.
Posted by Greg Secker
