6 February 2002, 16:11  Sterling steady against dollar and euro

LONDON, Feb 6 - The pound was little changed against the euro and the dollar on Wednesday as market attention was turned to events in Japan and the U.S. In Britain, the Halifax house price index rose 1.6 percent on the month in January. Analysts said this provided further evidence of the strength of consumer demand and should underpin sterling. The Bank of England's Monetary Policy Committee concludes its two-day rate-setting meeting at 1200 GMT on Thursday but analysts are expecting interest rates to be held steady at 4.0 percent. "We seem to be pulled around by what the euro and the dollar are doing," said Rob Hayward, senior FX strategist at ABN-Amro. "The numbers on the consumer side suggest there won't be a cut in rates." At 0834 GMT, the pound was trading at $1.4141 , barely changed from its New York close. Against the euro, it fetched 61.26 pence , also little changed from levels late Tuesday. Traders were also looking ahead to British manufacturing and industrial production data. These are expected to be weak and should provide further support for the view that BoE rates will be left on hold.

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