FXStreet (Guatemala) - Analysts at Rabobank noted that this morning’s release of the weaker than expected June retail sales report at 0.1% m/m has come as a disappointment to the sterling bulls.

“The ONS, however, has detailed more encouraging information regarding the underlying trends “the three-month on previous three-month movement in the quantity bought showed continued growth for the sixteenth consecutive period increasing by 1.6%”.

“This is the highest calendar quarter since March 2004 (1.9%) and has been the longest period of sustained growth since November 2007”. The market may again be guilty of expecting a little too much regarding the pace of recovery in the UK economy”.

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