Will It Go Up or Down?
Stephen Heath, chief executive of FairFX.com, said in the FTAdviser.com on Friday: "When measured against a basket of currencies Sterling has collapsed by approximately a quarter, more than any previous devaluation in the past century.
"The escalation in the banking crisis and news that we have officially entered recession has led to investors dumping sterling in favour of more secure assets and the pound falling to its lowest rate against the dollar in almost a quarter of a century."
Monday 26 January 2009, 05:13pm
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