India, June 20 -- The British pound weakened against other major currencies in the early European session on Friday, after U.K. retail sales declined more than expected in May on weak food store sales.
Data from the Office for National Statistics showed that U.K. retail sales fell 2.7 percent on a monthly basis in May, in contrast to the revised 1.3 percent increase in April. Sales were forecast to drop 0.5 percent.
Following a strong growth of 4.7 percent in April due to good weather, sales posted a monthly fall of 5 percent. Non-food store sales were down 1.4 percent.
Excluding auto fuel, retail sales slid 2.8 percent month-on-month, reversing a 1.4 percent rise in April and was also sharper than the expected drop of 0.5 percent.
On a...