The UK Retail Sales came in at -1.0% MoM in December, a big miss.

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• The UK Retail Sales came in at -1.0% MoM in December, a big miss.
• Core Retail Sales for the UK dropped by 1.1% MoM in December.
• The Cable tests lows near 1.2350 on the downbeat UK data.

The UK Retail Sales arrived at -1.0% over the month in December vs. 0.5% expected and -0.5% previous. The Core Retail Sales, stripping the auto motor fuel sales, fell by 1.1% MoM vs. 0.4% expected and -0.3% previous.

On an annualized basis, the UK Retail Sales plunged 5.8% in December versus -4.1% expected and -5.7% prior while the Core Retail Sales tumbled 6.1% in the reported month versus -4.4% expectations and -5.6% previous.

GBP/USD is under moderate selling pressure following the release of the downbeat UK Retail Sales data. The spot was last seen trading at 1.2357, down 0.24% on the day.

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