UK Chancellor Darling says he will meet with UK banks individually next week to push them to lend more to business and those seeking mortgages. He does not want to see a lack of mortgage finance to choke off a housing recovery.
Also on the wires, UK business secretary Mandelson says that a competitive pound means more manufactured goods will be sourced from the UK.
Sounds as both the government and the BOE would ewelcome a cheaper pound. It is a bit lower as the dollar rallies versus the “risk” currencies, now at 1.6464 from 1.6545 highs.