May 24, 2013

Pound hits seven month low against the US dollar

During early trading on Monday, the pound hit its lowest level against the US dollar in approximately seven months. The pound fell to $1.5438, representing the respective low-point.

On Saturday, the Bank of England revealed that further weakening of the pound may be required in order to drive growth of the economy as a result of cheaper exports.

A copy of the respective speech is available to view here.

 

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