Sterling falls to 2011 low vs currency basket

LONDON, March 24 Thu Mar 24, 2011 12:09pm EDT

LONDON, March 24 (Reuters) - Sterling fell to its lowest this year against a basket of currencies on Thursday, driven by sharp falls against a firmer euro in the wake of weak UK retail sales data and a warning by Moody's on risks to economic growth.

Trade-weighted sterling =GBP fell as low as 79.6, its lowest since December 31, 2010.

The fall came as the euro EURGBP=D4 jumped 1.2 percent to hit its highest in four and a half months at 87.88 pence.

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