The Confederation of British Industry’s (CBI) latest Distributive Trades Survey showed on Thursday, the UK’s Retail Sales Balance dropped to -5 in June versus May’s -1 print.
June Retail Sales 3-month average -14 vs. May -9, lowest in more than a year.
Retail Sales balance for the time of year -19 in June vs. 0 in May.
GBP/USD is trading around 1.2200, consolidating the recovery induced by the upbeat UK Services PMI. Bulls remain wary amid broad risk-aversion and a stronger US dollar.