(RTTNews) - The pound recouped its previous sessions' losses against most of its major counterparts on Tuesday morning in New York. The pound thus staged a rebound after hitting fresh multi-month lows against the currencies of Europe, US and Switzerland. A trio of surveys released earlier today showed Britain's unprecedented monetary and fiscal stimulus has helped reverse a slide in house prices, buoyed retail sales and pushed the economy closer to recovery. Retail sales in Great Britain increased in September, according to survey results released today by the British Retail Consortium. The BRC said comparable store sales increased 2.8 percent on year in September, following a 0.1 percent on-year decrease in August. Meanwhile, the Royal Institution of Chartered Surveyors said that an index measuring sentiment in the United Kingdom housing industry jumped to its highest score in September since May 2007, posting a score of 22. That beat forecasts for a score of 16 following the mark of 10 in August. At the same time, the Office for National Statistics said U.K.'s annual inflation slowed to 1.1% in September from 1.6% in August. Economists were expecting the annual rate to ease to 1.3%. The September 2009 annual inflation rate was the lowest rate since September 2004. Month-on-month, consumer prices remained flat. The pound that plunged to a 6-1/2 month low of 0.9414 against the European currency by 8:10 am ET gained 0.7 percent to 0.9348 around 11:10 am ET. The euro-pound pair is currently trading near yesterday's closing value of 0.9353. German economic sentiment dropped 1.7 points to 56 in October from 57.7 in the prior month, the latest survey from the Centre for European Economic Research or ZEW showed today. The expected reading was 58.8. But, the index stood well above the historical average of 26.7 points. Meanwhile, the economic expectations for the Eurozone eased 2.7 points to 56.9 in October, while the indicator for the current economic situation rose 2.5 points to minus 75.4 points. The pound that tumbled to near a 7-month low of 1.6125 against the Swiss franc in early European trading reversed its course shortly after commencing the North American session on Tuesday. The pound thus drifted higher to 1.6266 against the franc by 11:15 am ET and this may be compared to yesterday's close of 1.6233. Switzerland's producer and import price index dropped 4.9% year-on-year in September, in line with economists' expectations, the Federal Statistical Office said today. The index was down 5.5% in August. Month-on-month, producer and import price index rose 0.2% in September, faster than the 0.1% growth expected by economists. The UK currency advanced to 1.586 against the US dollar around 11:00 am ET, up 1 percent from a fresh multi-month low of 1.571 hit around 5:00 am. The pound-buck pair is currently trading at 1.5848, compared to 1.5801 hit late New York Monday. Tuesday is a quiet day on the economic front. Traders will watch for remarks from Fed officials Donald Kohn and William Dudley as well as the release of the Treasury Department's September budget. The pound rebounded to 142.27 against the yen around 11:25 am ET after falling to a 5-day low of 141.22 in the early European session today. The pound-yen pair that closed yesterday's deals at 141.95 is presently worth 142.19. Data released by Bank of Japan showed today that the benchmark measure of money supply, M2, rose 3% year on year to a daily average of 757.8 trillion yen in September. M3 was up 2.2% in the same period. The Bank of Japan began its two-day monetary policy meeting today and will announce its decision on interest rates at its conclusion tomorrow. Analysts expect the bank to keep rates on hold at the record low 0.10 percent, although investors will be looking for clues as to how soon the bank may raise rates - especially after Australia hiked rates in a surprise move last week.

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