Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv (Updates price action, Tusk comments)
LONDON, Jan 18 (Reuters) - The pound weakened on Friday as investors took profits after a stellar rally that set the currency up for its biggest weekly gain against the euro in more than a year on growing confidence that a no-deal Brexit can be avoided.
Data showing British shoppers cut back on spending in the three months to December was broadly in line with market expectations and sparked just a brief rise in sterling.
The bigger focus for traders remained Brexit, especially after a tumultuous week in which British Prime Minister Theresa May's deal suffered a heavy defeat in parliament but won a subsequent vote of confidence.
Those developments boosted a perception in markets that Britain will be able to leaving the EU without a deal.
The pound has risen about 1.3 percent against the euro this week, set for its biggest weekly gain since December 2017.
"Sterling has rallied quite a bit over the past week-and-a- half and the weakness today is a bit of check on those gains and a bit of profit taking," said Tapas Strickland, of National Australia Bank in London.
"The market is pricing out the risk of hard Brexit and some kind of agreement ... so against this background, you'd expect sterling to grind higher above $1.30."
At 1540 GMT, the pound was down 0.65 percent at $1.2895 , having touched $1.30 on Thursday.
Against the euro, sterling slipped 0.5 percent to 88.12 pence and below two-month peaks hit a day earlier at around 87.65 pence.
On Friday, prominent Brexit campaigner Nigel Farage said the United Kingdom is likely to delay Brexit and another referendum is possible.
May is due to hold a series of meetings with some of her top ministers on Friday to discuss the way forward after her deal with Brussels was rejected by parliament, her spokeswoman said.
"The bottom line for sterling is that when the probability of second referendum rises it is positive and when the probability of hard Brexit rises it is negative so sterling crashes between the two views," said Adam Cole, chief currency strategist at RBC Capital Markets.
Ross Hutchison, rates portfolio manager at Aberdeen Standard Investments, added that as concerns about a no-deal Brexit recede, factors such as brighter outlook for the economy and what the Bank of England will do on rates come back into play.
"I think that kind of analysis is broadly correct but that doesn't mean there couldn't be an accident on Brexit," he said.
Britain's 10-year government bond or gilt yield rose to 1.376 percent on Friday, its highest in more than six weeks.
(Reporting by Dhara Ranasinghe Editing by Robin Pomeroy)