UK retail sales figures have busted expectations in April, which saw sterling surge higher on key pairs.
At 9.37am, sterling was up 0.45% to $1.3029. It was up 0.68% to €1.1703.
The data showed UK retail sales rose 2.3% on the month in April, while on the year it was up 4.0%.
The markets had been looking for a 1.0% monthly rise, and a 2.0% annual rise.
If volatile items were excluded, core retail sales rose 2.0% and 4.5% in April, for the month and year respectively.
The retail data rounded out a trinity of statistics that investors were watching closing -- the others being CPI inflation, average weekly earnings.