Sterling Hits New All-Time Low Vs Euro

Today's latest fresh all-time low for the pound against the euro is 1.1089, with one euro breaking through the 90 pence mark today for the first time ever.

Sterling has now dropped around 13 per cent against the euro in the past two months as the Bank of England has slashed interest rates faster than the ECB in its attempt to stave off a deep and prolonged recession.

Things could get worse later this week, new figures are expected to show that UK unemployment is worsening, increasing from 5.8 per cent to 6 per cent, while the number of people claiming jobless benefits is forecast to have risen by 45,000 in November.