Pound to euro exchange rate: Interest rate decision keeps sterling flat
The pound faltered ahead of the Bank of England's interest rate decision
Sterling fel to around 1.1363 against the euro, and 1.271 against the dollar before policymakers led by Bank Governor Mark Carney give an update on the economy.
Rates are set to be held at 0.25 per cent, and worse than expected wage data yesterday dampened expectations that soaring inflation could persuade more members of the Monetary Policy Committee (MPC) to vote for a rise.
Lower than expected retail sales put further pressure on sterling.
High street spending fell 1.2 per cent between April and May 2017, and annual growth sits at just 0.9 per cent - its lowest level since April 2013, data from the Office for National Statistics showed today.
Britain's currency is now testing key support levels against the dollar which, if broken, could send the pound plunging to lows not seen in momths, experts have warned.