The pound is still trading around the same levels against the euro and the dollar this morning.
The CBI distributive trades data, which measures the health of the retail sector, came in well above expectations yesterday. It jumped to its highest reading since June 2018 due to the reopening of non-essential shops in April.
Hardware, DIY and furniture sales were significantly above seasonal norms, however clothing and footwear remained below seasonal norms.
In business news this morning, Sainsbury’s has reported a £261m loss despite significant food sales. This is due to extra costs related to the pandemic and the decision not to opt for business rates relief.
