The pound is still trading around strong levels against the euro following a series of positive UK data releases this morning but has weakened slightly against the dollar.
Halloween and early Christmas shopping have boosted retail sales in the UK, with department stores, clothing outlets and second-hand shops seeing the biggest spending. Overall, sales were 5.8% higher than in February 2020 before the pandemic hit.
Consumer confidence was also higher than expected, despite the 10-year high inflation.
The euro has weakened slightly this morning, however, markets will be listening out for any comments around interest rate hikes from President of the European Central Bank Christine Lagarde later for fresh impetus.
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