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Sterling surged higher on Thursday after a surprise jump in UK retail sales prompted speculation that the economy might be weathering the current storm more robustly than previously thought.
Data showed UK retail sales rose by 3.5 per cent in May, taking them up 8.1 per cent on the year. ...

Sterling rose sharply on Monday after data showed UK factory gate inflation hit a record high in May, putting pressure on the Bank of England not to cut interest rates.
The Office for National Statistics said producers’ output prices rose 1.6 per cent last month, taking annual factory gate inflation to 8.9 per cent – the highest since comparable records began in 1986.
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The pound lost 1 per cent against the dollar after worrying financial data was revealed by Bradford & Bingley, a major player in the buy-to-let credit market.

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Disappointing data on German and French economy brought in grim expectations for the Euro. Experts speculate that higher energy prices have shrunk consumers' actual disposable income.

The Australian dollar hit a 24-year high at USD 0.9571. Analysts expect expensive local currency to have negative impact on Australian economy if sustained for considerable period. ...