Pound falls as UK faces triple-dip recession
The possibility of a triple-dip recession in the UK forced the pound down against both the euro and US dollar this week, putting an end to three weeks of gains against the common currency.
The possibility of a triple-dip recession in the UK forced the pound down against both the euro and US dollar this week, putting an end to three weeks of gains against the common currency.
Uncertainty over the impact of Hurricane Sandy and the US presidential election led investors to hedge their bets this week.
The euro continued its slow ascent against the pound and US dollar this week, bouncing back ever since its July nadir of 1.20 against the greenback.
The US dollar has triumphed against the pound and euro this week, as a Eurozone agreement dating back to June to break the link between indebted banks and governments unravels.
Following a fortnight in which the common currency fell against its pound and US dollar, its back up again this week, as the markets hope against hope that Spain requests a bailout.
How much confidence do the markets have in the world’s central banks? A lot, if the latest changes in the exchange rates are anything to go by
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