| From Guardian: Sterling slumped to its lowest level against the dollar for nearly a quarter of a century today on persistent fears about the health of Britain's banks and worries that the cost of bailing them out could be a millstone round the economy's neck for many years to come.
The pound fell as low as $1.362 during a hectic trading day, pressured also by bad public finance figures and a speech by Bank of England governor Mervyn King on Tuesday night that indicated that further action would be needed to prevent the economy melting down..... Full Article: Source
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