February 19, 2010 / 9:43 AM / 10 years ago

Sterling falls vs dollar, euro after UK retail sales

LONDON, Feb 19 (Reuters) - Sterling hit a nine-month low against the dollar on Friday after weaker-than-expected UK retail sales data prompted traders to continue dumping the pound.

Sterling GBP=D4 fell around half of a U.S. cent to $1.5345, its weakest since May 2009, after figures showed UK retail sales fell 1.8 percent in January from December, much more than expectations for a 0.5 percent fall. [ID:nONS004813].

By 0936 GMT, it trimmed some losses to trade at $1.5387.

The euro EURGBP=D4 briefly rallied to the day’s high of 87.91 pence, which was also its strongest in roughly a week, before pulling back to around 87.80 pence.

Reporting by London Forex Team

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