LONDON — The pound on Friday tumbled to a fresh 37-year low on the US dollar, and a 17-month trough on the euro, after weaker-than-expected figures of retail sales added to worries about the health of Britain's economy.
The euro rose to as high as 87.66 pence , its highest level since February 2021, and was last up 0.39 per cent at 97.52 pence. Britain's new leader, Liz Truss, last week announced a cap on soaring consumer energy bills for two years to cushion the economic shock of war in Ukraine with measures likely to cost the country upwards of 100 billion pounds.
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