FOREX MARKET NEWS UPDATE BY SPIDERSIGNALS.COM

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The pound rose to the day’s highs on Thursday after data showing that UK retail sales outstripped forecasts in May as good weather and the Royal Wedding boosted consumer spending.GBP/USD was up 0.49% to 1.3442 by 05:03 AM ET (09:03 AM GMT), from around 1.3396 ahead of the report.UK retail sales jumped by a far larger-than-expected 1.3% in May, the Office for National Statistics said, while the figure for the previous month was revised up show a 1.8% increase.Shoppers spent more on food and household goods in the run-up to the wedding of Prince Harry and Meghan Markle during the good weather in the middle of the month, the ONS said.

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