Pound tumbles to 14-month low as FTSE climbs despite slump from retail stocks

Stocks in London were higher after a fall in the value of the pound (Victoria Jones/PA) - (PA Archive)

The pound slid to its lowest for more than a year on Thursday, helping to push the FTSE 100 firmly higher.

Sterling continued its recent slump amid worries over UK borrowing costs, with the yield on 10-year government bonds dropping to its lowest level since the 2008 financial crisis.