Pound Hit As Bank Turns On Taps Again

Daily MailAugust 07, 2009

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Summary


STERLING's seemingly inexorable climb came to a clattering halt yesterday as the Bank of England announced its decision to spray yet more freshly minted money into the financial markets.

Sterling slumped 1.4pc to $1.67 against the dollar, erasing some of a 22pc rally recorded since its March lows. It slid almost 1pc to 1.16euros.

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Extract


Pound Hit As Bank Turns On Taps Again

The declines came as traders digested the downbeat economic assessment that lay behind the Bank's decision to add Poun...

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