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Sterling trading at its weakest of 2011

Posted on 29 March 2011

The pound’s value against other world currencies has fallen to its lowest level since December as expectations of a UK rate rise recede. Sterling’s trade-weighted index – calculated against a basket of the main global currencies - fell as low as 79.1, its weakest since late December.

The pound is being sold on the currency exchanges as pessimism over the UK economy is pushing back expectations for when the Bank of England is likely raise interest rates…………………………………….Full Article: Source


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