RPT-Sterling falls to fresh 2-year low vs US dollar

Wed Aug 27, 2008 12:07pm EDT
 
[-] Text [+]

(Repeats to attach story to news alert)

NEW YORK, Aug 27 (Reuters) - Sterling slid to a fresh two-year low against the U.S. dollar on Wednesday in thin trading, pressured by concerns about a slowing British economy that could force the Bank of England to cut interest rates.

Sterling GBP= fell to $1.8286, the lowest since July 2006, according to Reuters data. It was last at $1.8312, still down 0.4 percent on the day.

The British pound has dropped from about $2.0153 hit just over a month ago, and was on track to post its weakest monthly performance against the dollar since 1992. (Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)

 
Kenneth Griffin, Founder, President and CEO, Citadel Investment Group LLC, speaks during the "Financial Recovery: When and How?" panel at the 2009 Milken Institute Global Conference in Beverly Hills, California April 27, 2009. REUTERS/Phil McCarten
Citadel enters the fray

Kenneth Griffin's powerful hedge fund has waded into the case of Goldman Sachs' purloined computer code, suing three of its former employees for setting up Teza Technologies.  Full Article | Full Coverage 

Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better