Pound rises after UK retail sales get a boost in July


The pound has edged up after the latest data from Office for National shows that retail sales grew rapidly in July, helped by the World Cup and the heatwave.

At 0800 GMT, sterling was up 0.1 per cent against the dollar at $1.2706.

Retail sales volumes in July rose by 0.7 per cent, and were 3.5 per cent higher than a year earlier.

“Many consumers stayed away from some high street stores in July, but online sales were very strong, supported by several retailers launching promotions. Food sales remained robust as people continued to enjoy the World Cup and the sunshine,” added Rhian Murphy of the ONS.