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5/1/2008 7:44:09 AM The dollar was stable against the sterling Thursday morning after moving away from a multi-week high in the previous session. The pair was trading at 1.9869 approaching mid-morning.

UK`s manufacturing Purchasing Managers` Index dropped to 51 in April from March`s 51.3, a monthly survey from the Chartered Institute of Purchasing & Supply and NTC Economics revealed Thursday. However, the gauge stayed above the expected level of 50.8.

A PMI reading above 50 suggests expansion in manufacturing sector, while a level below 50 indicates contraction. The manufacturing activity was hit by combination of slower output growth, falling orders and rising inflationary pressures, the report stated. Copyright © 2007 RTTNews.com. All Rights Reserved.

British Pound Hits 5-day High Against US Dollar [GBP/USD]
4/28/2008 6:39:09 AM The British pound reversed the losses it incurred against the yen and the dollar in early deals on Monday. The pound hit a 5-day high against the dollar at 6:00 am ET. Against its European and Swiss counterparts, the pound showed mild strength during this time period.

Against the US dollar, the pound strengthened to a 5-day high of 1.9913 by about 6:00 am ET Monday, after falling to 1.9785 by about 3:10 am ET. The pair closed Friday`s deals at 1.9853.

The UK`s sterling equaled a 4-day high of 207.98 yen at about 6:10 am ET, Monday, moving up from an early low of 206.81. And against the euro, the sterling climbed to 0.7881, from 0.7909 by about 6:00 am ET. The pound-yen pair and euro-pound pairs were worth 207.40 and 0.7864 respectively at Friday`s North American close.

According to the Japanese Ministry of Economy, Trade and Industry, overall retail sales in Japan posted a 1.1 percent increase in March on a yearly basis and this marked the eighth straight month of gain.

The government said that sales at large-scale retailers, including department and supermarket store sales, rose a seasonally adjusted 0.2% on year.

In early deals on Monday, the pound weakened to 2.0443 against the franc at about 4:05 am ET. Thereafter, the pound gained ground and is now trading near 2.1533 francs, compared to Friday`s closing value of 2.0571.

Swiss National Bank`s board member Thomas Jordan said the outlook for Switzerland economy remains good and the central bank`s three-month Libor rate range of 2.25 % to 3.25 % remains appropriate under current market condition.

Results of a house prices survey by Hometrack, showed a 0.6% monthly decline in U.K. house prices in April. Prices declined in each of the past seven months, and the April reading marked a steeper pace of decline the 0.2% fall recorded in March. Meanwhile, house prices slid 0.9% year-over-year, marking the first decline in more than two years. Copyright © 2007 RTTNews.com. All Rights Reserved.

Pound Slightly Higher Amid Q1 GDP Report [GBP/USD]
4/25/2008 4:34:44 AM Following the release of the British first quarter GDP report at 4:30 am ET, the pound ticked up against its major counterparts. At about 4:32 am ET, the pound was worth 1.9720 against the dollar, 0.7898 per euro, 206.60 versus the yen and 2.0543 against the franc. Copyright © 2007 RTTNews.com. All Rights Reserved.

British Currency Drops Against Dollar, Higher Versus Other Majors Ahead Of Q1 GDP Report [GBP/USD]
4/25/2008 4:26:32 AM The British first quarter GDP report has been scheduled for release at 4:30 am ET. Ahead of the release, the pound showed weakness against the dollar, but strengthened against the rest of majors. At about 4:25 am ET, the pound traded at 1.9710 against the dollar, 0.7900 per euro, 206.54 versus the yen and 2.0540 against the franc. Copyright © 2007 RTTNews.com. All Rights Reserved.

British Pound Slides To 9-day Low Against Dollar; Hits Multi-day Highs Against Euro And Franc [GBP/USD]
4/25/2008 3:32:39 AM Friday morning, the British pound dipped to a 9-day low against the US dollar, while it strengthened to multi-day highs against its European and Swiss counterparts. Against the yen, the sterling showed weakness during this time.

The pound, which closed yesterday`s trading at 0.7947 against the euro advanced to 0.7928 at about 3:25 am ET. This set a 4-day high for the pound.

Against the franc, the British currency advanced to a 6-day high of 2.0488 at about 3:25 am ET Friday, compared to yesterday`s New York Session close of 2.0444.

At about 3:15 am ET, the pound-dollar pair reached a 9-day low of 1.9679, dropping from an Asian high of 1.9761 The pair was worth 1.9742 at Thursday`s North American close.

In early deals on Friday, the British currency lost ground against the Japanese yen after hitting a high of 206.16. The pound-yen pair is currently trading at 205.65 compared to 205.80 hit late yesterday in New York.

According to data released today by the Ministry of Internal Affairs and Communications, core consumer prices in Japan increased 1.2 % in March compared to one year earlier. The increase was the biggest rise since a 1.8 percent hike registered in March 1998

The Euro-zone M3 money supply and the British GDP reports are expected in the upcoming hours.

The US university of Michigan consumer confidence report for April has been slated for release later in the New York morning. Copyright © 2007 RTTNews.com. All Rights Reserved.

Dollar Drops 2 Cents To Sterling Amid Hawkish Remarks From BoE`s Besley [GPB/USD]
4/22/2008 9:15:45 AM The dollar fell sharply versus the sterling Tuesday morning in New York after Bank of England voting member Tim Besley told the UK-Canada Chamber of Commerce that the central bank`s plan to thaw frozen credit markets will give policymakers the opportunity to address inflation. The dollar fell to 1.9950 by 9 am ET, down 2 cents from its early highs.

US Dollar Higher Against Sterling, Falls Versus Rest Of Majors [GBP/USD]
4/21/2008 6:01:48 AM Monday morning, the US dollar showed mixed trading against its major counterparts. The greenback showed strength against the sterling, but was down versus the euro, the franc and the yen.

According to a data released by the Ministry of Economy, Trade and Industry today, activity in Japan`s service sector declined a seasonally adjusted 1.7 % in February compared to the previous month. The tertiary activity index for February registered 108.4, compared to a reading of 110.3 for January.

Pound At 4-day Lows Against Euro And Dollar [GBP/USD]
4/21/2008 5:56:20 AM Monday during early deals, the British pound weakened to 4-day lows against the euro and the dollar. Against its US counterpart, the pound fell from a 17-day high.

UK banking system received a lending boost from the central bank. The BoE launched the much-hyped GBP50 billion Special Liquidity Scheme to allow banks to swap temporarily their high quality mortgage-backed and other securities for UK Treasury Bills.

British Pound Eases From 17-day High Against Dollar [GBP/USD]
4/21/2008 4:54:22 AM Monday morning, the British pound declined against its major counterparts. The sterling strengthened to a 17-day high against the dollar before losing ground at about 9:40 pm ET Sunday.

Against the euro, the sterling lost ground after hitting a high of 0.7901 at about 9:50 pm ET Sunday. The pound that closed last week`s deals at 0.7878 against the euro is now worth 0.7979.

British Pound Declines Against Majors Amid Announcement Of BoE`s Scheme [GBP/USD]
4/21/2008 4:22:21 AM Amid the Bank of England`s announcement of the launch of its Special Liquidity Scheme, the British pound declined against its major counterparts. The said Scheme aims to improve the liquidity position of the banking system and increase confidence in financial markets. As of now, the Sterling is trading at 2.0124 against the franc, 205.74 against the yen, 1.9887 against the dollar and 0.7981 against the euro.