Saturday, 8 May 2010

Pound is hung out to dry as the nation’s indecision takes its toll

The pound, gilts and equities all came under huge selling pressure yesterday as traders — already punch-drunk from Thursday’s violent convulsions on Wall Street — digested the news that Britain had elected a hung Parliament for the first time in 36 years.

Sterling, which had risen to $1.4935 against the US dollar after early results pointed to big swings from Labour to the Conservatives, fell as low as $1.4478 once it became clear that no party would have an overall majority. more...


Disclaimer - The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.

The myriad of facts, conjecture, perspectives, viewpoints, opinions, analyses, and information in the articles, stories and commentaries posted on this site range from cutting edge hard news and comment to extreme and unusual perspectives. We choose not to sweep uncomfortable material under the rug - where it can grow and fester. We choose not to censor skewed logic and uncomfortable rhetoric. These things reflect the world as it now is - for better and worse. We present multiple facts, perspectives, viewpoints, opinions, analyses, and information.

Journalism is (or used to be) the profession of gathering and presenting a broad panorama of news about the events of our times and presenting it to readers for their own consideration. We believe in the intelligence, judgment and wisdom of our readers to discern for themselves among the data which appears on this site that which is valid and worthy...or otherwise.

  © Blogger template 'Perfection' by 2008

Back to TOP