Reuters - Each central bank is facing a difficult situation where inflation and inflation expectations are picking up but the growth outlook is still concerning to varying degrees across the G10. So when you do a stock-take, sterling looks vulnerable compared to the dollar and the euro. The (UK) data was better than expected, but the level of the RICS house price report still raises questions about the state of the housing market...There is still this adverse growth/inflation mix in the UK which will mean that sterling remains on the back foot.