Last Update 23:5
Monday, 14 October 2019

Sterling posts biggest fall vs euro in 6 years

Reuters , Monday 24 Aug 2015
Views: 819
Views: 819

Sterling fell sharply against the euro on Monday, on track for its biggest one-day loss against the single currency in over six years as the rout on global stock markets cooled expectations the Bank of England might raise interest rates any time soon.

The pound lost as much as 2 percent, a fall not seen since early 2009, as the euro pushed through 74.00 pence for the first time since May.

The earliest money markets now expect the BoE to raise rates is the middle of next year, compared with the turn of the year, which was investors' base case as recently as earlier this month.

Britain's FTSE 100 stock market was down as much as 6 percent on Monday, among its steepest declines on record. 

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.