Sterling Hits Record Low Vs Euro
Sterling fell to a two year low against the dollar and a record all-time low against the euro early Monday after Alistair Darling said the country's economic downturn might be the worst in 60 years.
There was a lot of weekend press about how bad the UK economy is at the moment, and that's weighing heavily on the market in early trade.
At 9am London time the pound was $1.8066 and one euro was worth 81.16 pence. Earlier sterling fell to as low as $1.8005 its lowest level since April 2006.
The pound slid to 81.36 pence to the euro, the lowest for sterling since the single European currency was launched in 1999.
There was a lot of weekend press about how bad the UK economy is at the moment, and that's weighing heavily on the market in early trade.
At 9am London time the pound was $1.8066 and one euro was worth 81.16 pence. Earlier sterling fell to as low as $1.8005 its lowest level since April 2006.
The pound slid to 81.36 pence to the euro, the lowest for sterling since the single European currency was launched in 1999.