Pound 'level with euro' view; CURRENCY In association with www.rbs.co.uk.
Sterling has fallen deeply out of favour as Britain's economy sinks into what could be a severe recession and the Bank of England cuts interest rates aggressively below the present two per cent. Yesterday it sank to an all-time low against the euro, which could buy 87.83 British pence, more than at any time since the continental currency started life in 1999.
The pound remained more than a cent shy of the EUR1.5 mark. But on a trade weighted basis against leading currencies it was worth less than at any time since the Bank of England has kept records in this form since 1990.
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|Publication:||The Birmingham Post (England)|
|Date:||Dec 11, 2008|
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