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The pound lost some 200 pips on Thursday and the GBPUSD pair was trading down 1.50% during the London session as traders aggressively sold sterling after the UK Brexit minister Dominic Raab's resignation. The Cable decline back below the 1.30 level and was trading at 1.2870 during afternoon. Earlier in the day, the UK retail sales slumped again and the year-on-year gauge slowed to 2.2% from 3.3% in September. Moreover, the core indicator also decelerated notably from 3.6% to 2.7%. Weaker data also undermined the pound.

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