Pound at record low against euro
Published January 11th, 2008
The pound has fallen to an all-time low against the euro after weak manufacturing data underscored a gloomy outlook for the UK economy.
Sterling is now at its weakest since the single currency was introduced in 1999. It now takes 75.86 pence to buy a euro. One pound was worth 1.3243 euros.
The pound also hit a 10-month low versus the dollar at $1.9485.
After a strong 2007, the pound is expected to weaken in 2008 as interest rates fall and the UK economy slows.
The pound hit a 26-year high against the dollar last year, above $2.
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