Wednesday, January 9, 2008

Sterling at record low vs euro as M&S adds to gloom

Source: Reuters UK
Date: 09/01/08

"Sterling slid to a fresh all-time low against the euro and a nine-month trough versus the dollar on Wednesday as a weak earnings report from a major UK retailer fanned expectations of an interest rate cut as soon as Thursday."

"This added to a sense that problems in the credit market and inflation are starting to constrain the UK economy, adding pressure to the Bank of England to cut interest rates".

No comments: