UK August retail sales weaker than expected

UK August retail sales have come in at flat m/m, +2.1% y/y compared to median forecasts of +0.1% and +2.7% respectively.

The ONS says main downward impact on monthly retail sales from clothing.

Cable is off about 30 points at 1.6505.

Elsewhere, BOE quarterly survey shows Briton’s inflation expectations for the coming year holding steady at 2.4% in August, unchanged from May.