The British pound has faced sustained pressure, marking its eighth consecutive week of depreciation against the U.S. dollar, signaling vulnerability in economic fundamentals.
October's retail sales decline signals consumers' caution amid broader economic concerns, particularly impacting essential goods and highlighting a fragile economic landscape in the UK.
Despite a slight quarterly sales volume growth of 0.8%, the figures remain significantly below pre-pandemic levels, indicating slow recovery and subdued consumer confidence.
Inflationary pressures in the UK are supporting elevated bond yields, implying market expectations that the Bank of England will maintain a hawkish policy stance in the near term.
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