Eric the Economist says

The GBP jumped after very strong UK retail sales data suggested UK high street activity is much more buoyant than previously thought. The Office for National Statistics revealed that retail sales in January were 0.8 pct higher, on a seasonally-adjusted basis, than the previous month, when retail sales fell by 0.2 pct. January's performance was far better than the 0.2 pct monthly rise analysts had expected and the highest monthly rate since February 2007's 1.7 pct. The buoyant monthly performance helped the annual rate double in January to 5.6 pct, again beating analysts' forecasts of a 4.8 pct increase.