Friday, May 18, 2007

Pound Is Little Changed Versus Dollar Before April Retail Sales Report

(Bloomberg) -- The U.K. pound was little changed before a report expected to show that retail sales rose for a third month in April, reinforcing the case for the Bank of England to keep raising interest rates this year.

The pound traded near a two-month low versus the euro and a four-week low against the dollar after inflation slowed last month and the BOE said in a quarterly report two days ago that the outlook for prices is ``unusually uncertain.'' The bank also said it expects ``upside risks'' to inflation.


Read more at Bloomberg Currencies News

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