The UK Retail Sales came in at 1.2% MoM in February, an upside surprise.

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• The UK Retail Sales came in at 1.2% MoM in February, an upside surprise.
• Core Retail Sales for the UK rose by 1.5% MoM in February.
• The Cable keeps its range below 1.2300 on the upbeat UK data.

The UK Retail Sales arrived at 1.2% over the month in February vs. 0.2% expected and 0.9% previous. The Core Retail Sales, stripping the auto motor fuel sales, rose by 1.5% MoM vs. 0.1% expected and 0.9% previous.

On an annualized basis, the UK Retail Sales dropped 3.5% in February versus -4.7% expected and -5.2% prior while the Core Retail Sales decreased 3.3% in the reported month versus -4.7% expectations and -5.4% previous.

GBP/USD is keeping its cautious momentum intact below 1.2300 despite the upbeat UK Retail Sales data. The spot was last seen trading at 1.2275, down 0.07% on the day.

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