Gbp/usd - 92.75 ... U.K. producer prices fell by 1.2% y/y, the sharpest drop since December 2001 n much lower than economists' forecast of 0.8% decrease. Input price fell by 11% y/y (expectation was -12.2%) due to the sharp decline in crude oil price. Cable was supported by the selloff in eur/gbp which tumbled fm this week's high of 0.8672 to as low as 0.8538 today. Some offers are noted at 1.6320 n 1.6340 whilst bids by European names are reported at 1.6255/60 with stops seen below 1.6250.
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