Pound slips against the euro
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Sterling was weaker against the single European currency, hitting 70 pence per euro and continuing to hover around that level after the Bank of England (BoE) released a dovish quarterly inflation report.
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The pound eased back after the week's steep gains as rate hike expectations receded into the background slightly as the flow of data slowed today.
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Sterling remained weak, the only currency to fall against the dollar, with the euro settling above 0.70.
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The pound was on the backfoot against the dollar following the release of a survey by property website Hometrack, which showed yet more evidence of a cooling in the housing market.
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The pound eased off earlier highs against the dollar but remained steady against the euro.
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The pound has fallen to an all-time low against the euro as the outlook for the UK economy darkens.
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The pound has edged lower against the dollar after reaching fresh two-year highs overnight.
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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 British pound hit an historic low against the euro on Friday owing to heightened expectations of cuts to British interest rates in 2008.
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The pound was edging lower amid indications that inflationary pressures in the UK may be easing, in turn weighing on rate hike expectations.
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The pound rose againt a weaker dollar and against the yen on Tuesday, as the markets tried to work out whether a US interest rate cut was on the cards.
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The dollar fell against the pound and the euro yesterday, prompting calls for intervention to support the dollar from several European finance ministers.
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The pound drifted lower against a resurgent euro after Britain&#039;s deficit for trade in goods widened in May from the figure for April.
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The pound has retreated against its major rivals after the Bank of England's (BoE) decision to leave interest rates unchanged at 4.75 percent.
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The pound falls to a record low against the euro, as dealers expect more interest rate cuts in Britain in 2008.
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The dollar falls further against the euro while the pound remains at a 26-year high against the US currency.
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The pound was mostly lower against major currencies Wednesday, quickly reversing earlier gains as market players concluded that today's stronger-than-expected fourth-quarter UK GDP data and hawkish Monetary Policy Committee minutes are unlikely to mean the Bank of England will not cut interest rates next month.