UK Pound stays slippery

British Pound stayed lax after slipping from seven-week high against the US dollar amid continued economic worries. The energy price shock from the Iran war will hit the UK the hardest of the world's advanced economies, the International Monetary Fund (IMF) has stated in its latest World Economic Outlook. The IMF cut its estimate for UK growth this year to 0.8%, from the 1.3% prediction made in January before hostilities began. The IMF suggested the UK, as a net importer of energy, remained sensitive to rapid rises in energy prices. This pulled down GBP/USD pair from highs around 1.3600 and it quotes at 1.3540 now, down marginally on the day. On NSE, GBP/INR futures are quoting at 1.2643, down 0.20% on the day after highs around 1.2580 capped upside.