UK outlook on sales conflicts with pound
Domestic growth in the UK is looking to prosper but global recovery may have other thoughts for the pound.
The United Kingdom's retail sales are expected to rise for a third straight month indicating that consumers aren't afraid to help jump start the economy. There have been increases in non-food and non-specialised stores, which is a good sign that people are spending their money more freely. Other support for the economy and the pound have come from a stabilising housing market and a slowed rate of job loss.
All the aforementioned positives have helped the exchange rate of the pound since early March, but despite all the good news, the outlook for a global recovery has diminished. As the conflicts of the domestic and global economies continue, there will be a slightly bearish outlook for the pound.
The battling of economies has the sterling's exchange rate at USD1.636 and EUR1.173.
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