Gbp/usd - 1.9751...The British pound extended intra-day rise fm 1.9666 low on active cross-buying vs Japanese yen due to renewed carry trade activities, stops abv 1.9760 were triggered but a mixture of offers n stops is located at 1.9770/80 n further out at 1.9820/30.

News fm UK Times raised concerns over U.S. banks as it reported Citigroup could cut up to 32,000 jobs to stem rising losses. The world's largest bank is expected to lose 10 percent of its workforce when it unveils full-year results next Tuesday. It is also believed to be considering the sale of non-core assets to raise capital, there are rumours that Citigroup needs to write down as much as $18.7 billion in the fourth quarter of the year, to cover losses on bonds backed by American sub-prime mortgages, and to slash its dividend by 40 per cent.