British pound weakens to US dollar - Cause

12:57 - 22.09.2023

September 22, Fineko/ The British pound weakened against the US dollar, falling below $1.2260.

ABC.AZ reports with reference to the foreign press that it is linked with the fact that in August retail sales in the UK grew less than expected.

That is, British retail sales grew by 0.4% year-on-year, which was lower than the 0.5% growth forecast by economists.

After the publication of the data, the pound fell by 0.3% to the level of $1.2252 as of 11:20 on Baku time. And against the euro, it remained at 0.86 pounds sterling to the euro.

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