04:42 AM EDT, 06/26/2024 (MT Newswires) -- Pound sterling weakened on Wednesday ahead of the Confederation of British Industry Distributive Trades Survey, or DTS, for June.

The pair was last quoted at 1.2668, down 0.13%, as investors await the Wednesday reading. The forecast for the DTS figure in June is 1; Last month's DTS figure was 8.

The DTS assesses the health of the retail sector. Compiled from a survey of approximately 150 retail and wholesale companies, it measures sales activity across distributive trades.

The DTS figure represents the difference between the percentage of retailers reporting increased sales and those reporting decreased sales. A higher-than-expected reading should be regarded as positive for the GBP, while a reading lower than expected should be regarded as negative for the GBP.