IMF warns UK faces ‘significant challenges’ in face of trade war and tight fiscal rules; British retail sales below expectations - as it happened

Live, rolling coverage of business, economics and financial marketsIt is bad news for British holidaymakers as the pound dropped to as low as 1.1458 against the euro this morning, its weakest since April.The fall comes after a hawkish message from the European Central bank yesterday, with traders paring back bets that it could deliver another interest rate cut this year, and expectations growing that the EU is about to secure a trade deal with the US. Continue reading...