Sterling impacted by UK consumer spending fall

Sterling impacted by UK consumer spending fall

Story link: Sterling impacted by UK consumer spending fall

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In major currencies, sterling hit a one-month low in relation to the US dollar on negative April retails sales reports.

Even though at least part of April’s poor retail performance could be blamed on an early Easter holiday this year, the report still sent sterling down 0.5 percent to $1.8763 against the dollar before it recovered slightly to $1.8817.

Sterling also fell 0.3 percent against the euro, to £0.6835. Sterling also fell 0.3 percent to ¥198.66 against the yen, as well as being down 0.4 percent to A$2.4269 in relation to the Australian dollar.

Other major currencies changed very little on Tuesday.