Tuesday, April 17, 2007

The pound hits two US dollars mark

The pound has hit the two US dollars mark for the first time since September 1992.
The prospect of higher interest rates in UK, following Tuesday's stronger than expected inflation figures, caused the spike.
Sterling, which has strengthened in the face of weaker growth expectations in the United States, was last at the two dollars level just before it was ejected from the European Exchange Rate Mechanism in 1992.

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