Retailers move into focus as London equities adjust to currency shiftSterling has drifted lower in recent sessions, and in its wake an unexpected rotation has taken hold across London’s equity market. What makes the move compelling is not the size of the currency adjustment itself, but the way it reshapes sentiment towards consumer-facing businesses. Typically viewed as vulnerable to shifts in household confidence, these companies now find themselves temporarily insulated by the relative pricing advantage a weaker pound affords in global markets. It is also about the positioning of investors who have underweighted the sector in recent quarters, expecting consumer strain to weigh further on margins. As those assumptions meet a new reality, the incremental demand for retail names is notable.