The pound dropped 0.25 per cent against the dollar on Thursday morning after a bigger than expected dip in UK retail sales.
Sterling also fell 0.16 per cent against the euro to hit €1.1458 as it continued its decline which began on Wednesday after inflation undershot expectations.
The downward direction of the pound comes days after it hit a post-Brexit vote high of $1.436 ahead of wage and employment data released on Tuesday.
David Madden, market analyst at CMC Markets UK, said: “The pound was under pressure yesterday after the UK inflation rate slowed by more than expected, and it is likely sterling will suffer again today.”
However, she added: “The snow actually helped boost online spending with department stores in particular seeing growth in their web sales.”
