Pound falls on weak UK retail and budget data
Sterling edged lower on Friday after UK retail sales volumes fell 1.3 percent in April and public borrowing reached 24.3 billion pounds. The data highlights the impact of rising fuel costs and inflation on consumer spending while fiscal deficits widen amid ongoing geopolitical tensions.
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GBP/USD fell 0.1% to $1.3420 on Friday as retail sales in the United Kingdom dropped 1.3% in April. The retail slump is the steepest in nearly a year and more than double the 0.6% decline economists expected. Deteriorating public finances and rising unemployment are squeezing British consumers.
