Tuesday, Apr 17, 2007
Pound rises briefly above $2 mark on the day that UK inflation hits 3.1%
SKY News: Pound rises above two dollar rate
The pound has broken through the $2 mark for the first time since September 1992 - when Britain withdrew from the European Exchange Rate Mechanism - or ERM. The ERM was Europe's central money system and the precursor to the single currency, the euro. After passing the psychological barrier this time, the pound fell back to just under $2.
Posted by webmaster @ 10:33 AM (145 views) Add Comment
1 Comment
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1. Jake said...
Now that it has broken through the psychological $2 mark, the general opinion is that GBP (£) will strengthen more against the USD. The dollar has weakened a heck of a lot over the years. If a strong currency is a sign of a strong economy, then what does a weak currency say?