Pound Strengthens Versus Euro, Dollar After Retail Sales Unexpectedly Rise

The pound strengthened against the dollar and the euro after U.K. retail sales unexpectedly rose for a second month in January.

Sterling appreciated 0.3 percent to $1.5843 at 9:33 a.m. London time and advanced 0.3 percent to 82.90 pence per euro.

Sales including fuel increased 0.9 percent from December, when they rose 0.6 percent, the Office for National Statistics said today in London. Economists forecast a 0.3 percent decline, according to a Bloomberg News survey before the report.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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