Thursday 20 October 2011

Sterling bounces briefly vs dlr after UK data

Sterling rose briefly against the dollar on Thursday after UK retail sales rose more than expected in September, confounding some traders who were expecting a soft reading.

Sterling rose to $1.5745 from around $1.5710 after the data was released, before giving up some of those gains to trade at $1.5720, down 0.3 percent on the day.

The euro was firmer against sterling, trading at a session high of 87.455 , and up 0.2 percent on the day.
Britain's top share index was down 48.44 points, or 0.9 percent at 5,402.05, showing little change after UK retail sales data.

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