Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 7:17:05 PM CST

Learn about Newser Points »

« Back to the grid | Next story »

Pound Plunges to Record Low Against Euro

Posted Sep 2, 08 2:26 AM CDT in World,  Business 

(Newser) – The British pound has sunk to its lowest level ever against the euro since the European currency was introduced in 1999, the Financial Times reports. The fall follows Chancellor Alistair Darling's dire warning that the outlook for the British economy is the worst in 60 years. The pound dropped to $1.79 against the dollar, its lowest since April 2006.

The pound suffered its biggest fall against the dollar in 16 years last month when figures were released showing the British economy staggering. Government officials have downplayed the significance of the chancellor's comments—sparking rumors that Darling may soon be joining the rising numbers of jobless. But economic analysts say the UK economy appears to be unavoidably headed for recession.

Source Financial Times (UK)

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon
The British pound has tumbled to a record low of £0.8139 against the euro following gloomy predictions for the country's economy.   ((c) jonanamary)
The British pound has fallen against the US dollar and euro.   (AP Photo/Nick Ut)
« Prev« Prev | Next »Next » Slideshow

The current weakness of sterling accurately reflects the present situation of the British economy. All indicators seem to suggest that the economy will unavoidably slide into recession. - Lutz Karpowitz of Commerzbank.

« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 4)

Tags

recession • United Kingdom • euro • financial markets • currency • Alistair Darling • pound • foreign currency


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »