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"Markets loathe uncertainty": Gordon Brown's impact on the pound

Brown crisis sees sterling take a fall

5 Jun 2009


The pound fell again today as political unrest in Westminster created uncertainty in the City. Sterling lost 1.36 cents against the US dollar to $1.6074 and was down 1.35 cents against the euro to �1.1285.

It came as Gordon Brown faced mounting pressure following the shock resignation of Work and Pensions secretary James Purnell.

David Buik of BGC Partners said: "Markets loathe uncertainty."

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At only 1.13 euros the sterling is not high at all, so stop
all this euforia, the normal rate for sterling is around
1.50 euros.
Still a long and painful way to go , if lucky !!

- Paul Satchell, Tenerife -Spain, 05/06/2009 14:11
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