Pound dips against dollar on weak retail sales

The British pound fell against the dollar on Thursday following a report by the Office for National Statistics that said the volume of goods bought in the retail industry in the United Kingdom in September decreased by 0.8% month on month. Sterling also dipped against the euro after President of the European Council Donald Tusk said 'sufficient progress" on Brexit negotiations is unlikely to happen by December.

On the other hand, The US currency strengthened as the United States Federal Reserve's announcement on the US budget balance for September approaches.

The pound declined 0.41% against the greenback to go for 1.3152 at 11:11 am CET. At the same time, sterling lost 0.54% against the pound changing hands for 1.1143.

Baha Breaking News (BBN) / DN