The pound has also given up early gains against the Australian dollar; the rate is now flat at 1.5464. NB: These are inter-bank market quotes, your bank will affix their own discretionary spread when passing on a retail rate.

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 ...

The outlook for the British pound sterling (Currency:GBP) is set to be event and data driven this week. There is also a broad-based sense that the currency will trade heavy.

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 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.

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.