The pound is still weak against the euro and the dollar due to worries about the UK economy and global growth concerns.
As sterling typically moves with the wider markets, a fall in the global stock markets has weighed on the pound, as has poor economic data suggesting that the UK economy is struggling.
Later today, CBI Distributive Trades (a measure of retail sales balance) data will be released, which has been falling over the past two months as the cost-of-living crisis has deepened. It is projected to fall again.
