Mubasher: The UK’s retail trade report has shown that consumer spending in the UK “stalled its rebound” and dropped in September.

The UK’s retail volumes were seen at -0.8% month-on-month in September, while year-on-year retail spending dropped to 1.2%, data released by the Office for National Statistics (ONS) showed on Thursday.

Analysts and markets had estimated a -0.1% reading for the month-on-month data and 2.1% for the annual basis data.

Meanwhile, retail sales excluding volatile items as such fuel logged -0.7% month-on-month in September, while year-on-year, they reached 1.6%.

By 09:09 am GMT, GBP/USD retreated 0.41% to $1.3151, while EUR/GBP rose 0.56% to GBP 0.8977.