The pound UK collapsed after GDP and retail sales

The pound lost 0.5% of its value after retail sales data in the country fell more than expected. This reduced the chances of an increase in interest rates at the next meeting, as was the expectation of the majority of market participants.
Retail sales in the country declined by 0.8% on a monthly basis in September, which was far worse than the average expectations for a 0.1% decline.
The growth of the British economy slowed to 1.5% yoy, in the third quarter, which was the weakest performance since October 2013.
According to Tuan Lan Nguyen, a currency strategist at Commerzbank AG, the data was quite disappointing and sent pounds down strongly against other major currencies. The expert doubts that with such data, the UK central bank will keep its promise of raising interest rates at its next meeting. However, he remains behind Commerzbank's medium-term forecast for an increase in interest rates.
The pound fell by 0.5% to 1.3135 against the dollar. With the same percentage, the pounds also fell against the euro to 89.69 pence per euro. Interest rates on 10-year British bonds fell four basis points to 1.28%.