Sterling dips vs euro; higher vs yen after BOJ

Tue Dec 1, 2009 8:33am GMT
 
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* Euro up 0.2 pct at 91.35 pence EURGBP=R

* Pound little changed vs dollar at $1.6471 GBP=

* Sterling gains vs yen as BOJ provides more liquidity

LONDON, Dec 1 (Reuters) - Sterling dipped to near one-month lows against the euro on Tuesday on concerns about the country's ailing public finances and fragile economic outlook.

The pound had hit a one-month trough against the single currency on Monday after an unexpected fall in British consumer confidence data.

Data on Tuesday showed British house prices rose 0.5 percent in November, the same as in October, suggesting a rapid initial rebound from the five-year low set in February is now slowing, mortgage lender Nationwide said on Tuesday. [ID:nLAG005963]

Other data slated for Tuesday include UK manufacturing purchasing managers' index for November, which likely rose slightly to 54.0 from 53.7 the previous month.

Bank of England policymaker Adam Posen is also scheduled to speak later in the day.   Continued...

 

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