Sterling Plummets to 1.11
Published / Last Updated on 11/12/2008
Sterling Plummets to €1.11
Sterling has continued its fall against World currencies by hitting the £1 to €1.11 market. Getting even closer to parity with the euro.
It has also been suggested that the Government will do nothing to underpin the pound. We suggest this is a good thing as it will make British goods cheaper overseas and encourage UK exports and sales bring in much needed wealth in to the UK.
Some commentators suggest that as we move to parity, the UK may move for monetary union. We suggest this is nonsense, as no UK government would commit as such as low level leaving Britons financially weaker against our European cousins.
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