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Stellar retail sales gives GBP some...........>

FOREX
FOREX: Stellar retail sales gives GBP some breathing room
-GBP's among the best performers in G10 Thursday after performing dismally since
the Monday open as retail sales came to the currency's rescue. Retail sales were
seen dropping on a monthly basis, but sales grew by 1.0% including auto fuel
(+0.9% excluding), helping boost GBP/USD comfortably back above the $1.2450
mark.
-Markets also read some positivity into the Australian jobs report, with full
time employment surging, helping to balance recent jobs growth that's leant on
part time job gains. AUD/USD extended the bounce of $0.70, rallying to touch
$0.7039.
-There's been a decent move lower in USD/CNY risk reversals, with vols now
moving the most in favour of USD/CNY puts since early May, in what looks like
the biggest one-day move in vols of the year (this is repeated across the whole
vol structure).
-US weekly jobless claims, the South African central bank rate decision and
speeches are scheduled from ECB's de Cos, Fed's Williams and Bostic.

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