Pound holds under five-week high as markets eye UK data releases

British Pound is holding around 1.3330 mark against the US dollar today, moving in a cautious manner after coming off a five-week high last week. Meanwhile, the UK stocks edged lower on Monday with the FTSE 100 closing down 0.2% as investors eyed this weeks policy announcement from the US Federal Reserve amid expectations of a 25-basis point cut. A series of key UK data releases are also due. Meanwhile, on the NSE, GBP/INR futures are quoting at 120.19, down 0.05% on the day. The pair started the session around 120.30 mark before pulling back. The UK composite output index rose to 51.2 in November from 52.2 in October, indicating a marginal expansion of business activity in British private sector.

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