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Pound hits fresh 4-yr low vs euro after weak data Reuters Sterling fell to a new four-year low against the euro on Thursday, while British shares timmed losses after UK retail sales data showed an unexpected monthly fall in October, boosting the case for Bank of England rate cuts. Retail sales fell 0.1 percent on the month versus expectations for a flat reading. "It suggests that the economy is slowing down in the fourth quarter and it's looking like there is going to be a rate cut in February which will mean cable (sterling/dollar) will go lower," said Geoff Kendrick, currency strategist at Westpac.
Sterling fell to a session low of $2.0472, down about half a cent from pre-data levels <GBP=>. The euro rose as high as 71.52 pence, highest since July 2003 <EURGBP=>. The FTSE 100 .FTSE trimmed losses, down 0.46 percent after the UK retail sales data. (Reporting by Simon Falush and Toni Vorobyova)
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