The British Pound is witnessing modest gains after a recovery from near one and half week low today. UK private sector activity witnessed some growth momentum in October. The UK composite output index rose to 51.1 in October from 50.1 in the previous month. However, latest data from the Confederation of British Industry (CBI) showed that retail sales fell again in October. The CBI's retail sales volume balance was -27 this month, versus -29 in September. Sales for the time of year were judged to be poor, with a balance of -15, down from -13 in September. This capped advances in GBP/USD pair as it hovers around 1.3350 mark today, up very nominally on the day. On NSE, GB/INR futures are currently quoting at 117.90, up 0.06% on the day. The counter hit around 118.10 in morning trades but flipped back thereafter.
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