The pound took a hit on Friday after fresh data showed a dismal drop in December retail sales. The pound took a hit on Friday after fresh data showed a dismal drop in December retail sales. Sterling was down around 0.3% against the US dollar at 1.385, having climbed as high as 1.394 in morning trading ahead of the release. It had been gaining ground on a weak dollar as American politicians continue to grapple over a stopgap bill that would avert a government shutdown, but was knocked after the Office for National Statistics said UK retail sales tumbled 1.5% month-on-month, marking the worst December performance since 2010. Meanwhile, a 9.7% drop in like-for-like store sales in the 13 weeks to December sent Bonmarche shares tumbling 21.5p to 105p.

Source: Irish Independent January 19, 2018 17:48 UTC