The pound has fallen to a three-month low against the dollar ahead of a Bank of England Monetary Policy Committee meeting today, the first of 2012.
Sterling broke through the support level of 1.5350 against the dollar yesterday before breaching the 1.53 mark today. Andy Scott, foreign exchange dealer at HiFX, said the pound could slump even further to 1.51 in the near term and maybe even 1.50 in the medium term. “Sterling has begun 2012 suffering some heavy selling across a range of currencies, especially against the US dollar, taking it to multi-month lows ahead of the first interest rate meeting of the year. “While the expectations are that there will be no change to either interest rates or the quantitative easing programme...
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