Accompanying the Sterling data, the Bank of England published its lending results for April. While mortgage lending rose to 1.7 bln Sterling in May from 1.6bln in April, the worrying sign is that lending to businesses collapsed down 5.4 bln in April, the weakest level since June 2000. Also public sector borrowing rose again to a new record at 19.86 bln. All told, hugely negative data for Sterling which is now testing the downside at 1.6270. Bids are seen in the 1.6215/20 area like yesterday.