| 05.12.2008 - Pound in 13 year record plunge |
| From Smeweb.com: The pound sterling plunged yesterday, with its overall value tumbling to its lowest for 13 years against the US dollar, as another spate of dire economic news left markets convinced that the Bank of England will order a further, drastic cut in interest rates today. Interest rate cuts are not good news for the pound as investors will receive less return on their investments; thus demand for the UK currency falls along with rate cuts..... Full Article: Source |