Forex News – Sterling spikes down v. USD after poor UK retail sales
Posted on November 15, 2012 at 10:55 am GMTSterling tumbled to a new two-month low against the dollar and a two-week low against the euro in reaction to weaker-than-expected UK retail sales data. The poor figures give evidence of a slow growth outlook for the British economy. The sales volumes dropped by more than expected by 0.8 percent in October according to data from the Office for National Statistics. This was the weakest since April. Analysts had forecast a drop of only 0.1 percent. September figures were revised [..]