(Bloomberg) -- The pound fell the most against the
dollar in almost five months as global stocks slumped and
investors pared so-called carry trades on concern U.S. subprime
mortgage defaults will slow growth.
The U.K. currency dropped more than 1 percent against the
dollar today, falling from near a 26-year high, as investors
unwound purchases of assets funded by borrowing in Japan and
Switzerland, which have the lowest rates among major economies.
The pound this week fell 3 percent against the yen, its biggest
decline since March.
Read more at Bloomberg Currencies News
dollar in almost five months as global stocks slumped and
investors pared so-called carry trades on concern U.S. subprime
mortgage defaults will slow growth.
The U.K. currency dropped more than 1 percent against the
dollar today, falling from near a 26-year high, as investors
unwound purchases of assets funded by borrowing in Japan and
Switzerland, which have the lowest rates among major economies.
The pound this week fell 3 percent against the yen, its biggest
decline since March.
Read more at Bloomberg Currencies News
No comments:
Post a Comment