The Pound was sold off on Friday morning after the announcement of retail sales figures which slipped back unexpectedly in January, following on from December's dip. Figures from the Office for National Statistics (ONS), showed retail sales volumes dropped by 0.3% compared with the previous month, representing the first signs of a fall in the underlying trend since December 2013.
The ONS said evidence suggested higher fuel and food prices were key factors to the figure which was well below the 0.9% rise expected. This follows on from other figures earlier this week from the ONS which showed inflation rose to its highest level in two and a half years at a time when wage growth was slowing down.
The French Presidential campaign was in the headlines this morning on news Marine Le Pen’s campaign received a boost after socialist rival Emmanuel Macron caused fury by calling French colonialism a "crime against humanity". Macron was in Algeria speaking and his remarks have backfired, as a reslult he has been forced to apologise.