Pound Down Again
It's a familiar story of gloom and despondency. The pound is down again.
U.K. consumer confidence slid last month to the weakest in at least four years, according to a report. This will provide the BOE with a little bit more fuel to add to the fire, not that they really needed it, to cut interest rates further tomorrow.
At 10.30am GMT the British currency was $1.4713, having fallen as low as $1.4667 earlier, against last night's close of $1.4897. Sterling is now close to it's lowest since June 2002.
The pound started the week at $1.5340 and has now fallen 26 percent against the dollar this year, the most since at least 1972.
But on a brighter note, we are slightly firmer today against the Zimbabwean dollar, for those of you planing to spend Christmas abroad.
U.K. consumer confidence slid last month to the weakest in at least four years, according to a report. This will provide the BOE with a little bit more fuel to add to the fire, not that they really needed it, to cut interest rates further tomorrow.
At 10.30am GMT the British currency was $1.4713, having fallen as low as $1.4667 earlier, against last night's close of $1.4897. Sterling is now close to it's lowest since June 2002.
The pound started the week at $1.5340 and has now fallen 26 percent against the dollar this year, the most since at least 1972.
But on a brighter note, we are slightly firmer today against the Zimbabwean dollar, for those of you planing to spend Christmas abroad.
