Retail sales hit new low

This morning’s retail sales figures were the worst since June 2008 – showing a 1.8% drop in January, 3 times worse than expected.

Regular readers will not be surprised to learn that the Pound has fallen on the back of this news.

There is little news likely to improve exchange rates, so anybody who needs to make foreign currency transfers might like to consider booking a rate in case things go from bad to worse, with no major UK data due out before next Friday.