GDANSK: The pound briefly rose today after UK data showed retail sales were surprisingly strong in February, offering some optimism about the resilience of the consumer, while economic growth met expectations in the fourth quarter (Q4).
British retail sales unexpectedly rose in February when they grew by a monthly 1% from January, figures from the Office for National Statistics (ONS) showed today.
Reuters poll of economists had pointed to a monthly fall of 0.4% in sales volumes.
Sterling blipped to a session high of US$1.295 after the data, before retreating to US$1.2944, showing little change on the day.
The euro was last down 0.1% against the pound at 83.34, showing little change from levels traded before the data.
The UK economy expanded 0.1% in Q4, the ONS said in a separate release, as economists polled by Reuters had expected.
On an annual basis, growth expanded by 1.5%, compared with forecasts for an increase of 1.4%.