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| Version 1 | Version 2 |
|---|---|
| Pound continues fall against euro | Pound continues fall against euro |
| (18 minutes later) | |
| Sterling has fallen to a fresh record low against the euro, while the value of the dollar has declined on talks about possible US rate cuts. | Sterling has fallen to a fresh record low against the euro, while the value of the dollar has declined on talks about possible US rate cuts. |
| The pound touched a record low of 1.1084 euros, which made one euro worth 90.22p, before recovering slightly to 1.1141 euros. | The pound touched a record low of 1.1084 euros, which made one euro worth 90.22p, before recovering slightly to 1.1141 euros. |
| Meanwhile, the dollar fell as analysts predicted the Federal Reserve would cut interest rates on Tuesday. | Meanwhile, the dollar fell as analysts predicted the Federal Reserve would cut interest rates on Tuesday. |
| The dollar fell to $1.3541 against the euro and $1.5087 against sterling. | The dollar fell to $1.3541 against the euro and $1.5087 against sterling. |
| POUND STERLING v EURO: 15 December 2008*All Times GMT | POUND STERLING v EURO: 15 December 2008*All Times GMT |
| Sterling has now hit record lows against the euro for six trading days in a row. | Sterling has now hit record lows against the euro for six trading days in a row. |
| "Sterling remains under pressure on continued UK economic weakness," said Geoff Kendrick at UBS. | |
| Bail-out factor | Bail-out factor |
| The dollar declined on Monday on worries over the strength of the US economy, and on the uncertainty surrounding the bail-out of US carmakers. | The dollar declined on Monday on worries over the strength of the US economy, and on the uncertainty surrounding the bail-out of US carmakers. |
| "An interim bail-out plan for US automakers by the Bush administration is certainly weighing on the dollar, with many being sceptical as to how the industry can cope in the longer term and instead thinking that letting the market take its course would be a preferred route," said currency analyst James Hughes at CMC Markets. | "An interim bail-out plan for US automakers by the Bush administration is certainly weighing on the dollar, with many being sceptical as to how the industry can cope in the longer term and instead thinking that letting the market take its course would be a preferred route," said currency analyst James Hughes at CMC Markets. |
| The euro was supported by suggestions from European Central Bank officials that interest rates in the eurozone might not fall too much further. | The euro was supported by suggestions from European Central Bank officials that interest rates in the eurozone might not fall too much further. |
| Interest rates are at 2.5% in the eurozone, compared with 2% in the UK and 1% in the US. | Interest rates are at 2.5% in the eurozone, compared with 2% in the UK and 1% in the US. |