Pound Hits Fresh 12 Year Low
Sterling fell to a 12-year low on a trade-weighted basis on Thursday as UK house price data from the Nationwide Building Society intensified fears of a recession.
The pound was also perilously close to a record low versus the euro in early trade.
The euro gained to 80.58 pence, hovering close to a lifetime peak of 80.97 pence.
Against a broadly weaker dollar the pound stood at $1.8367 at 10am London time.
The pound was also perilously close to a record low versus the euro in early trade.
The euro gained to 80.58 pence, hovering close to a lifetime peak of 80.97 pence.
Against a broadly weaker dollar the pound stood at $1.8367 at 10am London time.