The British pound traded lower against the United States dollar, continuing a downward trend and remaining at lows unseen since 1985. Recent economic data showed that inflation in the United Kingdom is decreasing, although it remains at historically high levels, while its economy is stagnating amid a cost of living crisis. Today, the August retail sales report showed a 1.6% drop on a monthly basis.
The pound lost 0.81% compared to the dollar and sold for 1.13746 at 5:24 am ET.
