Today the US released figures for retail sales over the Christmas period. Core retail figures in the US were expected to show an improvement of 0.2% from the previous month, the actual figure was a contraction of 0.1% especially disappointment considering Christmas is usually a retailers busiest time. As a result of the disappointing data, the USD came under pressure from the EUR. The EUR appreciated by more than a cent against USD, this has had a knock on effect for GBP with the EUR gaining almost 1.5% in value on the Pound.
