Gbp/usd - 1.4355 ... U.K. net lending to U.K. businesses dropped by 9.1% y/y to 9.95 bln pound in March due to weak corporate demand n fewer mortgages approval. U.K. PSNCR came in at 8.847 bln pounds versus economists' forecast of 6.75 bln pounds. Despite cable's brief rise to 1.4475 due to cross buying in sterling (eur/gbp dropped briefly to 0.8646), the British pound tumbled to 1.4317 in tandem with euro. Offers are tipped at 1.4400/10 n further out at 1.4430/40 whilst bids are located at 1.4320, 1.4280 n then 1.4240/50.
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