GBP/USD battles 1.3500 after UK Retail Sales beat estimates with 0.8% MoM in Oct

• The UK Retail Sales came in at 0.8% MoM in October, a big beat.
• Core Retail Sales for the UK rose by 1.6% MoM in October.
• The cable flirts with daily highs near 1.3500 on solid UK Retail Sales.

The UK retail sales came in at 0.8% over the month in October vs. 0.5% expected and 0% previous. The core retail sales, stripping the auto motor fuel sales, stood at 1.6% MoM vs 0.6% expected and -0.4% previous.          

On an annualized basis, the UK retail sales decreased by 1.3% in October versus -2.0% expected and -0.6% prior while the core retail sales dropped by 1.9% in the reported month versus -3.1% expectations and -1.9% previous.

FX implications

GBP/USD holds the higher ground on a big beat on the UK Retail Sales, currently trading at 1.3500, up 0.09% on the day.

more to come ...