Sterling rises, gilt futures fall after UK retail sales

LONDON: Sterling rose and UK gilt futures turned negative on Thursday after stronger-than-expected UK retail sales data added to signs that economic growth was slowly picking up.

The pound rose to a session high of $1.6158, from $1.6130 before the data.

The euro fell against sterling to a session low of 81.10 pence, down 0.15 percent on the day.

British government bond futures fell more than 10 ticks after the data to touch a low of 118.37, 17 ticks down on the day, compared to levels broadly steady on the day before the data was released.