Trade Magnates -The Sterling is depreciating against the U.S. Dollar and the EUR, with the GBP/USD at 1.3130 and EUR/GBP at .8970 on Thursday.
The UK Office for National Statistics, ONS, data showed that retail sales are lower than expected for the month of September and consumers are feeling the current inflation.
The cable is under pressure as Brexit negotiations are leading to nowhere but further uncertainty as well as the high note for the US Dollar in the meantime.
The current data adds more pressure on the Bank of England to trigger a rate hike in November.