The pound is strong against the euro after a series of positive data releases. Against the dollar, sterling has almost completely recovered from its midweek losses.
Retail sales jumped by 9.2% in April, twice what markets had predicted, as lockdown eased further and consumers began to spend pent up savings.
The euro is still strong against the dollar. Markets will be looking to both eurozone and US PMI data today, which could give the euro a fresh boost.
There’s good news on a Friday once again for the US job market as initial jobless claims fell to a new pandemic low.
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