Published by Mark Smith-HalvorsenThe pound was falling further against the euro in global forex trading this morning (September 17th) after figures showed a surprise drop in retail sales in August.According to the Office for National Statistics, retail sales fell 0.5 per cent from a month earlier, registering the first decline seen since January.Speaking to Bloomberg, Peter Frank, a London-based strategist at Societe Generale, said the report has caused forex brokers whether the pound has been overbought in recent sessions."Clearly the data is weaker. Sterling outperformed in the last couple of trading days and it's eroded a bit today," he said, in comments made yesterdayIt has been a busy week for sterling trading and the currency has suffered amid fears of a slowdown, hitting a seven-week low against the euro yesterday and falling further this morning.In the last month, the pound has fallen 2.3 per cent against the euro, with losses yesterday running as high as 0.9 per cent.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site