Sterling slipped to a fresh 2-1/2 year low against the dollar on Tuesday after dismal British manufacturing data revived fears of another recession and increased bets of more easing by the Bank of England.
UK industrial output une
Sterling hit a 2-1/2 year low against the dollar on Monday as hedge funds and long-term investors sold, seeing the pound as susceptible to more weakness given contrasting outlooks for the British and US economies.
Sterling hit a two-and-a-half year low against the dollar and a 16-month trough against the euro on Monday after ratings agency Moody's stripped the UK of one of its prized triple-A ratings, rounding off a week of woe for the currency.
Sterling United Kingdom Real Estate Fund (Surf), a joint venture between Saudi-based Sidra Capital and UK-based Shariah compliant bank Gatehouse, has distributed higher than expected net dividend of 7 per cent (annualised) to its investors.
Gold rose for an eighth day on Wednesday, set for its longest stretch of gains in nearly five years, and struck a record high close to $1,580 after European leaders mulled the option of a Greek default and Ireland's credit rating was
Cristal Hotel and Resorts, a luxury hospitality company, has partnered with Preferred Hotel Group (PHG), a global sales and marketing business, aiming to expand its global market presence and boost sales by 10 per cent in 2010.
Sterling, which tumbled to multi-month lows against major currencies on Monday on a flagging economy and political uncertainty, has further room to decline, particularly against the euro, technical analysts say.
Analysts said euro/sterling
The dollar rose broadly on Monday, extending its pullback from a one-year low against the euro as traders continued to trim short positions in the US currency following broad losses so far this month.
Against the yen, the dollar rose nearl
The dollar climbed on Monday, moving back near a 23-year high against sterling and a six-week high versus the euro as fears about the global recession and banking sector problems pushed investors away from risk.
Investors were also anticip
Sterling fell versus the dollar to its lowest level in more than two years and slid to a record low against the euro on Monday, after Britain's finance minister said the country's economic downturn might be the worst in 60 years.