//
According to Reuters, sterling was at $1.5521, its lowest level since December 2nd, after the Lloyds Bank Group declared it is expecting further impairments on its Irish portfolio.
This has led to worries about the possible impact it will have regarding the UK and the Irish debt crisis.
But this is in contrast to yesterday when the pound was up against its US counterpart by 0.5 per cent at one stage in the afternoon.
And the news provider noted this was partly due to demand from UK exporters after retail sales in the nation were revised even higher than first thought, encouraging investment in sterling.
But Ian Stannard, senior currency strategist at BNP Paribas, refused to be drawn into all the hype by stating: "There were some upward revisions ... and the initial reaction to the data was that sterling tried to push a little bit higher."
Posted by Greg Secker
