Retail sales up, but mortgage lending down

Today’s data has been a mixed bag for the Pound, with retail sales better than expected, but mortgage lending still subdued.

Retail sales were up 0.6% in September, better than analysts’ forecasts of no growth, and up from a 0.4% contraction in August. Mortgage lending meanwhile was only £12.9bn in September, down 2% from August.

The Pound lost some ground against the US Dollar and Euro in trading this morning, but has recovered since.