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Setting default format for a text field not working for anything but US$.

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Using a Text Input control and on the Default property, issuing the following command:
 
Text(ThisItem.Rate,  "£###,##0."& Left("0000000000", Value(LookUp(view_Items_Decimals, ITEMNMBR = ThisItem.ItemNo, 'Unit Price Decimals'))))
 
It ends up not showing anything when I load a value from a table into the field. No amount or anything.
 
However, if I issue the below code instead, it shows properly, with the dollar sign and the amount.
 
Text(ThisItem.Rate,  "$###,##0."& Left("0000000000", Value(LookUp(view_Items_Decimals, ITEMNMBR = ThisItem.ItemNo, 'Unit Price Decimals'))))
 
Not sure what I am missing here. Any ideas? Thanks!

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