© Reuters. FILE PHOTO: Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company’s headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger
LONDON (Reuters) – Sterling fell to its lowest level since late 2020 versus the dollar on Friday, after data showed British retail sales dropped in March by more than expected.
The British pound fell to as low as $1.2906 and was last down almost 0.5% on day. It also weakened against the euro, and was last down 0.4% at around 83.49 pence per euro.
British retail sales volumes slid by 1.4% in March from February, a worse reading than average economist forecast in a Reuters poll that had pointed to a 0.3% monthly drop, official data showed on Friday.
(This story corrects low in second paragraph to $1.2906 not $1.2960)
Sterling falls to lowest since late 2020 versus dollar