Pound Back Under The Cosh

After a brief day of respite yesterday, the pound was back under the cosh today once traders started picking up the Daily Telegraph on their way to work.

An article in the Bellylaugh today quotes BoE Governor Merv the Swerve as saying that the pound's fall is 'helpful' and suggests that he has called leading economists to a 'crisis meeting' at Threadneedle Street next week, and that a cut in the interest rate the BoE pays depositors is on the cards.

The pound fell below 1.10 against the euro, or within the width of a gnat's chuff of one euro equals 91p if you'd rather do it that way round.

Against the dollar we are back down around the $1.62 mark.