Economic news

Review: Pound slides after sharp drop in UK retail sales

The pound lost half a cent versus the greenback on Thursday as UK retail sales fell unexpectedly sharply in September.

Sterling slumped 0.4 percent to $1.3154. Versus the euro, the British currency dipped 0.6 percent to a one-week trough of 89.77 pence.

The pound has been dragged down this week by a combination of weak data and dovish comments from BoE policymakers.

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