Pound falls against euro and dollar after retail sales disappoint
Sterling fell to $1.242 and €1.166 after reaching a two-month high against the eurozone currency earlier in the week.
Markets sold off the pound amid fears household spending power has been hit by higher inflation.
Annual growth came in at 1.5 per cent, a marked slowdown from 4.1 per cent in December.
Britain's currency fell as markets decided the fall could mean an interest rate hike by the Bank of England has been pushed further into the distance.
It comes after inflation hit its highest level in more than two years last month.
Crucially, wages are still rising faster than the cost of... read more
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