The pound dropped to its lowest level in almost two months against the dollar on Wednesday on worries over the UK’s fiscal health ahead of the government’s pre-Budget report.In spite of heightened sensitivity in the foreign exchange market to sovere
Sterling fell to a month low versus the € and against a basket of currencies on Thursday as concerns grew over the exposure of Britain’s financial services industry to debt problems in Dubai.The Gulf state’s move on Wednesday to restructure the debt
Sterling fell to a one-week low against the dollar on Friday as unease over the UK’s fiscal health and declining investor appetite for riskier currencies weighed on the pound.Sterling remained under pressure after data on Thursday showed that UK pub
Sterling dropped sharply and gilts advanced on Friday after data showed that the UK economy unexpectedly contracted in the third quarter.Gross domestic product fell by 0.4 per cent in the three months to September, confounding expectations for a ris
Sterling fell on Monday after a Bank of England policy maker hinted that he was in favour of extending the central bank’s quantitative easing programme. Adam Posen, a member of the Bank’s monetary policy committee, said the UK financial system had n
Sterling’s volatile run continued with a modest climb on Friday, as investors squeezed what more they could out of a rally that was soon expected to fade.The pound started the week on the back foot after weaker-than-expected inflation data and forec
Sterling jumped to a three-week high against the dollar on Thursday after comments from Bank of England policymakers that quantitative easing was working.Monetary policy committee member Paul Fisher told the Financial Times that the asset purchase p
Sterling resumed its downward path on Tuesday, undermined by weak inflation data which prompted further speculation that interest rates could be on hold at 0.5 per cent until 2011.UK consumer prices fell to a five-year low of 1.1 per cent in Septemb
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