Pound slips against dollar after comments from Fed Reserve chairman
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The dollar reclaimed some lost ground against the pound after the US Federal Reserve chairman Ben Bernanke&#39;s closely watched comments about the state of the world&#39;s largest economy.
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The pound was weaker after comments from the Bank of England's rate-setter Kate Barker, who said the UK economy is not moving back to a high inflation environment.
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The pound fell a 10-month low against the dollar and its lowest level against the euro on Wednesday, amid increasing speculation the Bank of England will deliver a back-to-back rate cut to revive a slowing British economy.
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The pound was firmer against the dollar, tracking the broader downward move in the US currency.
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The pound lost ground on the dollar after the Bank of England's decision to leave its main borrowing rates unchanged at 5.25 percent, analysts said Thursday.
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The pound slipped back today after data suggested the service sector is slowing down more dramatically than had been anticipated.
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The pound stabilised against major currencies after falling in the wake of what was perceived as a dovish set of minutes at the Bank of England's (BoE) last rate setting meeting earlier in the month.
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The pound suffered losses against the dollar and Euro today.
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The dollar softened on Thursday after Federal Reserve Chairman Alan Greenspan sounded more cautious on the US economic recovery than many investors had expected.
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The pound wobbled after minutes to the Bank of England&#39;s September monetary policy decision indicated there are no further rate rises on the agenda.
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The pound was down against the major currencies midafternoon despite relatively hawkish comments from the Bank of England following surprisingly resilient US jobs data and some dovish comments from the European Central Bank.
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The dollar posted modest gains on  Wednesday as investors awaited comments from the Federal  Reserve chief that are expected to point to further rises in  U.S. interest rates this year.
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The dollar sagged to a record low  against the euro on Tuesday after remarks on monetary policy by  European Central Bank President Jean-Claude Trichet did not  detract from bullish euro sentiment.
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The pound edged up against the dollar but dipped against the euro as market players awaited a speech at 5.30 pm on Monday by the arch dove on the Bank of England's Monetary Policy Committee, David Blanchflower.
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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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The dollar stumbled on Friday as  persistent concerns over the U.S. economy and comments  throughout the week from European Central Bank and Federal  Reserve officials allowed the currency no respite.
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The dollar barely moved on Tuesday as most investors were reluctant to take positions ahead of an address by the Federal Reserve chief that is expected to point to further rises in US interest rates this year.