Pound Plunges On Retail Sales, Public Finance Data

The pound has fallen against other major currencies Thursday after U.K. retail sales data fell far short of expectations and public sector borrowing rose to a new record high in May. Sterling sank most sharply against the dollar, losing over 1% to hit a session low of $1.6190, while the euro rose by a slightly smaller degree to reach GBP0.8605 as the two sets of data were released.
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