From Businessweek.com: Is it time to buy sterling? That depends on what you make of the dangers facing the struggling British economy. “The pound is sinking,” sang Paul McCartney in 1982. Unfortunately, the ex-Beatle’s ditty would sound perfectly current on a 2009 playlist.
The near-nationalization of the Royal Bank of Scotland on Jan. 19—in which the British government boosted its stake in the ailing banking giant to 70%—sparked fears for the health of the British banking system and forced the British pound down 6.6% for the week ended Jan. 23….. Full Article: Source