UK Retail Sales Disappoints Market

A 0.3 percent decline in November retail sales completely disappointed the market which was looking for a 0.6 percent increase.

Pound depreciated against the dollar and the yen, in a day that the sentiment in financial markets was battered by ongoing concerns about the credit quality of some countries, especially Greece which its rating downgrade raised questions about the economic healthiness of the euro-area. However - and with all the regrets! - I take my profit by selling the pound against the dollar after the report.