Corporate foreign exchange news

'Slow' retail sales could impact forex dealers

Tuesday, 06 December 2011 09:16:53 GMT

Posted by Mark Thompson
Forex dealers may be impacted by figures indicating that on a like-for-like basis retail sales last month were 1.6 per cent less than the same period 12 months previously.
The British Retail Consortium (BRC) noted today (December 6th) that in November 2010 total sales rose by 2.8 per cent, but in the same month this year they increased by just 0.7 per cent, which may cause concerns about the strength of the nation's economy.
Commenting on the findings, director general of the BRC Stephen Roberston said: "Retailers hope that customers who've managed their finances carefully in recent months will still treat themselves and their families in December, unhampered by the severe weather which disrupted shopping twelve months ago."
He added that the statistics suggest despite the fact Christmas is approaching people are reluctant to spend, causing a six-month low in terms of sales increases.
Yesterday sterling reached a high of $1.5721in foreign exchange trading, Reuters reports.
For more information on foreign exchange treasury services and risk management, visit our Corporate FX site ADNFCR-2522-ID-801230428-ADNFCR
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