Pound Value Plummets
September 2nd, 2008 | by abigail |The Value of Sterling has dropped following credit crunch comments from Alistair Darling. GBP is still on a seemingly unstoppable downward spiral despite the announced £1 billion government housing package.
Sterling has fallen to an all time low against the Euro trading at just £0.8153, earlier this morning, the £ was also getting battered by the $ falling to a fresh 29-month low of $1.7802.
Following comments that “Britain faces its worst economic crisis in 60 years”, The £ already on a downward spiral plummeted further. The BoE meets this Thursday to discuss U.K interest rates a drop in which could see further weakness in Sterling.
