Breaking News: Sterling keeps calm and carries on around 1.3100 after UK retail sales slumped -0.8% in September
|- UK retail sales fell -0.8% m/m in September
- UK retail sales ex motor fuel fell -0.8% m/m in September.
Sterling remained little changed on the downside around 1.3100 after the UK retail sales fell -0.8% m/m in September with core retail sales excluding the motor fuels falling -0.8% m/m. Sterling was under pressure on Wednesday after the UK inflation decelerated sharply to 2.4% in September and the evening Brexit summit failed to deliver a meaningful result.
Sterling fell below the key support level of 1.3100 after the EU officials hardened the stance on the UK saying European Union leaders dropped plans for a Brexit summit in November because not enough progress has been made.
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