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UK: Annual Retail Sales fall by 0.6% in January

On an annual basis UK Retail Sales dropped 0.6% in January, compared with the 0.1% rise in December, National Statistics reported on Friday. Analysts expected an increase of 0.8%. Month-over-month UK Retail Sales slid 0.6%, following the 0.3% drop and against expectations of 0.4% growth.

Year-over-year Retail Sales excluding Fuel climbed 0.2%, down from +0.8% and below expectations of a 1.4% increase. On a monthly basis Retail Sales excluding fuel dropped 0.5%, following a 0.4% dine and against market consensus of +0.4%.

Forex: GBP/USD drops to session lows around 1.5470/75

The sterling is accelerating the downside in the wake of softer-than-expected retail sales data during January. In fact, sales contracted 0.6% on a monthly and yearly basis against a forecasted expansion of 0.4%...
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ECB’s Draghi: Currency chatter is inappropriate

ECB head Mario Draghi spoke before the G20 officials gathered in Moscow for the two-day summit, saying that the euro was not overvalued and that its exchange rate was in accordance with long-term averages in nominal and real terms.
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