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Sterling turned weaker on the day against the dollar and the euro on Thursday after data showed the sharpest monthly fall in British retail sales in six months in June.
Sales volumes fell 0.9 per cent, more than the forecast 0.6 per cent, after rising by an above-average 0.9 per cent in May. Compared with a year earlier, sales growth slowed to 4.3 per cent from 5.7 per cent in May, versus forecasts of 5.0 per cent.
Retailers reported no anecdotal evidence of the unexpected result of the June 23 referendum affecting sales during the five-week period which ended July 2, the Office for National Statistics said.
Sterling hit a day's low of $1.3157 after the data, down 0.2 per cent on the day, having traded at $1.3210 beforehand. The euro was up 0.4 per cent at 83.80 pence, having traded at 83.425 pence beforehand.
Sterling had traded higher after Bank of England policymaker Kristin Forbes said it should not rush into a cut in interest rates. Noted hawk and policymaker Martin Weale also said this week he was unsure if he would back a rate cut at next month's meeting.
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