Faltering UK retail sales weaken pound
The mood towards the pound soured in the wake of a disappointing set of UK retail sales figures.
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The mood towards the pound soured in the wake of a disappointing set of UK retail sales figures.
October’s UK consumer price index proved weaker than forecast yesterday, with the headline inflation rate dipping from 1.7% to 1.5% on the year.
With Boris Johnson’s proposed Brexit withdrawal agreement on ‘pause’ the odds of a fresh delay to the Brexit deadline increased.
While Boris Johnson’s Brexit plan failed to get over the finish line on Saturday the pound still found cause for confidence at the start of the week.
After Boris Johnson was forced to seek a three-month extension to the Brexit deadline the pound remained under pressure.
Frenzied speculation over the possibility of an imminent breakthrough on Brexit saw the pound surge yesterday.
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