The pound reacts flat to UK retail sales data; market focus remains on the war in Iran.

After UK retail sales data exceeded expectations, the pound barely moved, weakening against the dollar, but holding steady against the euro. Retail sales in March grew by 0.7% compared to the previous month, surpassing economists' forecasts of a 0.1% increase. The data for February was revised down to a 0.6% decline. The focus of the market is still on the latest developments in the Iran war, as the current situation remains highly uncertain. US President Trump announced a three-week extension of the ceasefire agreement with Iran, but hinted that he would not rush to reach a peace agreement. With the strengthening of the dollar, the pound fell by 0.1% to $1.3464. The euro remained unchanged against the pound, at 0.8672 pounds.