Good news for UK consumers. Bad news for those hoping for a strong pound as CPI for April is weaker than expected at 2.4 pct versus expectations of 2.6 pct, the lowest level since September 2012.

Our central scenario is for a modest pick-up in GDP growth but the defining feature of the UK economy will continue to be protracted deleveraging.

Medium term momentum has become supportive of sterling (despite the recent short-term setback) and also for CAD which at the same time saw an increase in 2Y swap rates on a monthly basis.

The British pound sterling (Currency:GBP) is looking strong today in Thursday afternoon trade in London. The pound to euro exchange rate is 0.18 pct higher at 1.1845.

The Pound Sterling Live - The Heart-Beat of the British Pound. The British pound sterling live on Thursday: GBP rallies against the US dollar as US data releases miss the mark · Email.

Please Note: The above are quotes from the inter-bank market. When passing on their retail rates banks will ADD their own discretionary spread, driving up the cost of currency.

The British pound sterling (Currency:GBP) is mixed today - at present there is little by way of GBP-specific action for traders to focus on so the wider themes surrounding the Yen, Aussie dollar and US dollar are driving markets at present.

The Pound could strengthen further later in the session as analysts await the Bank of England's quarterly report of economic analysis and inflation projections.

Sterling is mixed in late afternoon in London. There is a tangible degree of uncertainty as to where markets are heading this week.

"GBPUSD's trek higher since March has stalled below 1.5600 in the last week, and needs to break above that level in the near term to maintain bullish momentum.