Pound Headed for Weekly Drop Versus Dollar on Signs U.K. Growth Is Slowing

(Bloomberg) -- The pound headed for a third week of
losses versus the dollar as reports showed Europe's second-
largest economy may be slowing enough to ease pressure on the
Bank of England to keep raising interest rates.

The U.K. currency fell as data this week showed inflation
slowed to a seven-month low last month, while growth in wages
eased in April. A report showed retail sales growth slowed in
May, reinforcing speculation four interest-rate increases since
August are crimping expansion in the $2.4 trillion economy.


Read more at Bloomberg Currencies News