EL NUEVO DIARIO, LONDON.- The value of the British pound fell this Friday against the US dollar to its lowest level since 1985, weighed down, according to analysts, by data released today on declining sales in the UK retail sector.
The pound fell 0.8% against the greenback this morning in London to trade at $ 1,137, the first time it fell below $ 1.14 in nearly 40 years.
Against the euro, the British currency also lost value, 0.4%, to 1,142 euros, the weakest level since the beginning of 2021.
Around 09:15 GMT the pound fell 0.67% against the dollar, trading at $ 1.1375 and dropping 0.49% against the euro and trading at 1.1408 euros.
According to data released today by the National Statistical Office (ONS), retail sales in this country fell by 1.6% last August, a trend that began about a year ago, when there were restrictions on sales. pandemic receptive activities.
Experts had anticipated that the drop in sales in that sector would be just 0.5%, so the data released today by the aforementioned official body raise fears for the state of the national economy.
The retail sales figure is attributed to consumers being impacted by rising cost of living and rising energy products, which motivates them to be more cost-conscious.
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