27th March 2008: Currency update - UK expected to underperform

Sterling resumed its slide against the Euro as the market expects the UK economy to continue to under perform in the Eurozone. The economic calendar is empty once again, which means that US data and risk appetite will be the primary driver of the British pound for the next 24 hours. There was no UK economic data released, which is why the strength of the pound was only seen against the US dollar and Japanese Yen. Right now Interbank is at 1.2780 with Natwest offering 1.2219. Source IFX