7th April 2008 Currency Update: Sterling slips again

Sterling slipped against the Euro this morning, at the start of a week when most economists expect the B of E to cut interest rates. A Reuters poll last week gave a median 60% chance of a 25 basis point rate cut to 5.00% at the central bank's meeting on Thursday. In contrast to the B of E, the European Central Bank is seen leaving rates on hold this Thursday and is not expected to start loosening monetary policy until the third quarter. No first tier UK data is due on Monday. Right now Interbank is at 1.2665 . source IFX