A 0.8 percent decline in retail sales brought about by rising consumer prices triggered the fourth straight day of losses for the British pound. The decline was the worse on record for a December when holiday shopping traditionally sees an increase in retail sales.
Ã¢â‚¬Å“Sterling has been underperforming and that definitely continued after the retail number,Ã¢â‚¬Â Lauren Rosborough, a senior strategist at Westpac Banking Corp. in London, said. Ã¢â‚¬Å“It is a weaker number and might take some of the pressure off the Bank of England to lift rates. It might push expectations out a bit.Ã¢â‚¬Â
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