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BRITISH POUND ANALYSTS COMMENTS

Financial Times - "Sterling remains under broad based pressure following further bad news from housing and retail. The recent UK data has been universally bearish for the pound and the path of least resistance remains further weakness."

Thomson Financial News - "The UK economic picture is deteriorating so rapidly, and the recent housing market data is confirming that. The market is rushing to revise down its growth forecast for the UK. Things are getting worse, not better, for sterling."

Dow Jones - "We have seen a small improvement in consumer confidence in August, but this should not be seen as a turnaround in core sentiment."

Global Forex Trading Ltd - "Sterling/dollar sank further a new over two-year low on Thursday and the selling pressure should continue. Initial support is at 1.8240. Below 1.8207, cable has support at 1.8127. Immediate resistance now comes at 1.8355. This is followed by 1.8437 and 1.8565. The next strong resistance remains 1.8620."

Thomson Financial News - "The fears that I have expressed over the last six months have started to come to fruition. I've obviously voted on quite a number of occasions now for small cuts but we need to act and we probably need to act in larger amounts than that. We need to actually get ahead of the game and it appears that we are now behind."

Dow Jones - "Higher and rising inflation is having an effect on pay negotiations in the private sector, but pressure on profits is also a key part of the picture as the economic outlook worsens."

Dow Jones - "Of course this does not mean that unemployment will rise by anything like three million, but it does show just how jittery people have become about the economy and their own job."

Dow Jones - "Retail conditions have been extremely tough this summer, and the wet August has been a further blow. Sadly, no let up is expected as we head into early autumn. The business outlook is particularly weak and retailers are having to scale back their employment and investment plans in an attempt to ride out the storm."

Dow Jones - "Moreover, (UK's) broader economic backdrop continues to suggest further falls ahead, with the labor market weakening, households' real incomes about to come under renewed downward pressures from 20%-25% increases in utility prices, tighter credit conditions continuing to bite, and consumer confidence having deteriorated precipitously in recent months."

Financial Times - "We have been forecasting three quarters of negative growth in the UK, but we could now be looking at a full year. It wouldn’t take much more. The euro looks set to target £0.81, which would break through April levels, and we think it will then move even higher."