Sterling remains near day lows
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The pound remained near day lows after a raft of British economic data cemented expectations that interest rates may not rise again in this cycle.
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The pound tumbled to a nine-month low against the euro yesterday after the publication of October&#39;s minutes of the monetary policy committee showed there had been no discussion of a possible rate increase, fuelling speculation that interest rates have
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Sterling slipped against the euro in the wake of further evidence that the housing market boom is coming to an end, suggesting that interest rates are close to their peak.
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The pound was stable in early afternoon trading after weaker-than-expected retail sales data.
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Sterling was weak ahead of Wednesday's publication of both economic growth data and the minutes to last month's rate-setting meeting at the Bank of England (BoE).
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Sterling remained weak after disappointing trade data as the US Dollar held firm against major currencies.
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Sterling stabilised against the dollar in the wake of a series of data showing a slowing in mortgage lending in August -- further evidence that the housing market is cooling as higher interest rates take their toll.
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Sterling softened after data released this morning by the British Banking Association provided further evidence that house prices are finally starting to cool.
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The dollar shuttled in a narrow range against most major currencies in light trade ahead of Christmas, but sterling tumbled on fears that UK interest rates could move lower.
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It has been a quiet day in terms of data releases, although Friday&#39;s stronger-than-expected GDP data gave a boost to the pound.
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The pound was steady despite further evidence emerging of a sharp slowdown in the British housing market.
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Sterling staged a late rally against the leading currencies after it had slumped to monthly lows against the yen and dollar on Monday.
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Sterling inched up slightly against the US currency to remain above the key two-dollar threshold on Wednesday.
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The pound has continued to trade within very tight ranges against the dollar.
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The pound slipped against the dollar after weak inflation figures fuelled expectations that the Bank of England will cut interest rates in the coming months, dealers said Tuesday.
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The pound has staged a late recovery against the euro after slumping to a six-day low against the single European currency.
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The pound finished lower against major currencies on Tuesday, despite earlier hitting a high against the US dollar.