Gbp/usd - 1.4693... The embattled British oil giant BP announced y'day it'll suspend dividend payments for the rest of 2010 and agreed to finance a 13.5 bln pound clean-up n compensation fund for the Gulf of Mexico oil spill. After the the news, cable remained under pressure in NY, falling fm y'day's 1.4857 high to 1.4685 in Asia. The suspension of dividend payments means BP wud not need to conduct a significant repatriation from abroad, therefore reducing the demand for sterling this year. Offers remained at 1.4720-50 area n stops are touted below 1.4680.
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