The British pound sterling (Currency:GBP) is down against the Euro and US dollar, but is seeing some luck against the Australian dollar thanks to some poor data out of Aus today.

11:55: The crux of today's inflation data for the British pound sterling? Ross Walker at RBS on why sterling is feeling the heat: "A 2.4 pct CPI outturn 'feels' much less problematic than 2.8 pct and presents a more favourable backdrop for Mark Carney ...

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.

This is supportive of ETFs like the Betashares British Pound ETF (ASX:POU) and the Currency Shares British Pound Sterling Trust (FXB), and these trends look set to continue.

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 US dollar has slipped back against the pound sterling on the back of a slew of weaker-than-forecast data releases. GBP/USD is 0.33 pct higher 1.5286.

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.

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

The Pound Sterling to Dollar exchange rate has risen to a two-and-a-half month high today after disappointing U.S. data, further gains will depend on evidence of a continued recovery in the UK economy. The pair are now rising in a classic upward trend ...