Pound declines as USD sees gains

The pound was lower versus most major currencies on Friday as consumer confidence fell, on slow growth in the value of a home there, and on anticipation that thee Bank of England will cut interest rates soon.

Home values were up 1.1 percent in March from the same time last year, the slowest rate of growth in 12 years, while consumer sentiment was down to minus 19 according to market researcher GfK NOP.

The pound traded at 79.14p to the euro in late morning trade in New York, while it was at $1.9930 to the US dollar and at ¥198.5076 to the yen.

The US dollar gained on the euro during the day after falling earlier on the possibility that Eurozone interest rates will go up soon, trading at $1.5772 to the euro shortly before noon in New York.

The US currency remained around 2.1 percent lower on the week in relation to the shared currency, however.

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