Pound Falls a Third Day as Retail Sales Add to Concern

The pound fell a third day versus the dollar, the longest losing streak in almost three weeks, after a report showing retail sales slid more in September than analysts forecast added to concern the economy is faltering.

Sterling weakened versus most of its 16 major peers as the Office for National Statistics said the volume of Britain’s sales including auto fuel decreased 0.3 percent from August. Analysts predicted a 0.1 percent reduction, according to the median estimate in a Bloomberg News survey. U.K. government bonds dropped a third day as Bank of England policy maker Ben Broadbent said the central bank will increase interest rates when economic “headwinds” fade.