U.K. retail sales are much better than expected in January, rising by 2.3% on the month against forecasts for a 0.5% rise. However, public sector finances figures slightly disappoint, with receipts not as high as expected. Sterling weakens, with GBP/USD down 0.4% at $1.4283, down from around $1.4329 before the data was released. EUR/GBP trades at 0.7762, up from 0.7744 beforehand. Focus for sterling on Friday is on U.K. negotiations with the EU on U.K.’s membership terms.

(jessica.fleetham@wsj.com)

This article originally appeared at TradeQQ.

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