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Pound under pressure Eyes UK retail sales & EU meeting…

Markets expect UK retail sales to show spending ticked higher in January. Advance indicators like BRC retail spending have already shown a sharp rise in spending despite gloomy financial market and economic outlook.

The data would be followed by all important EU meeting on UK membership, whose outcome could decide the fate of the UK’s membership ahead of the referendum. The bid tone around GBP could gather pace if the outcome is pro-EU.

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