This is it! Strength For Pound Climbing In European Session - Kakiforex.com - Financial Market Media No. 1 in the World This is it! Strength For Pound Climbing In European Session This is it! Strength For Pound Climbing In European Session

March 27, 2021

This is it! Strength For Pound Climbing In European Session

 Investors ’much-anticipated data at the start of the European session showed retail sales in the UK recorded a recovery in February as the country was still under tighter restrictions.


The Office for National Statistics (ONS) reported UK retail sales jumped 2.1% in February, following an 8.2% contraction in the previous month, in line with market expectations. Core retail sales, (excluding fuel) rose 2.4%.


On an annual basis, UK retail sales fell by 3.7% in February compared to an expected 3.5% decline and a 5.9% fall previously recorded.



However, the increase recorded in February still could not cover the significant decline in the quarter, which plunged by 8.2% in January.


UK Prime Minister Boris Johnson is expected to allow non-essential stores to reopen on April 12.


After half of the adults were given the Covid-19 vaccine, the government set a plan to relax restrictions.


The pound traded higher after seeing a recovery in UK retail sales data.