U.K. Pound Falls to Six-Week Low Versus Dollar as Retail Sales Slump

(Bloomberg) -- The U.K. pound fell to a six-week low
versus the dollar after a government report showed retail sales
unexpectedly declined in April, easing pressure on the central
bank to increase interest rates.

Sales fell 0.1 percent in March, economists had expected an
increase of 0.6 percent, according to the median of 35 estimates
in a Bloomberg News survey. Slowing economic growth may prompt
the central bank to limit future rate rises, futures prices show,
reducing the appeal of assets denominated in pounds.


Read more at Bloomberg Currencies News