Sterling Barely Moves After Weaker-Than-Expected UK Retail Sales Data
UK retail sales fell 0.4% in September, worse than the 0.1% decline expected. Sterling changed little as traders await the PMI release.
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what happened
Sterling remains weaker against the dollar and steady versus the euro, barely reacting to UK retail sales that came in below forecasts. According to Market Talk, sales dropped 0.4% in September after an upwardly revised 0.7% rise in August. Economists in a WSJ survey had expected a 0.1% decline.
Attention now shifts to the PMI survey due at 0830 GMT, which will offer a fresh reading on the health of the British economy. The pound fell 0.1% to $1.3388, while the euro traded at 0.8373 pounds, both little changed from levels before the release.
why it matters
Weak retail sales add to the case for caution on the pound, but currency markets have responded with restraint. The upcoming PMI figures will provide the next guide for GBP/USD and EUR/GBP.
market impact
GBP/USD and EUR/GBP: weak retail sales add pressure on the pound, but the market reaction has been muted.
tags
instruments
sources
- Sterling Little Moved After U.K. Retail Sales Data as Investor Await PMI Figures — Market Talk, 23 October 2026 at 06:57 UTC
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