Unless your wealth or earnings are in £.
http://news.bbc.co.uk/1/hi/business/7932799.stm
The pound has sunk back below $1.40 to a six-week low, as confidence in the UK economy took yet another knock following falls in bank shares.
The pound was down almost three cents at $1.3778. Sterling touched its lowest levels in 24 years in mid-January, nearing $1.35.
UK financial shares fell in Monday trading after the government increased its stake in Lloyds Banking Group.
Against the euro, the pound was down one-and-a-half cents at 1.098 euros.
"What's going on in UK shares at the moment is putting pressure on sterling," said Geraldine Concagh at AIB Group Treasury.
She added that the Bank of England's programme of quantitative easing will put further downward pressure on sterling.
http://news.bbc.co.uk/1/hi/business/7932799.stm
The pound has sunk back below $1.40 to a six-week low, as confidence in the UK economy took yet another knock following falls in bank shares.
The pound was down almost three cents at $1.3778. Sterling touched its lowest levels in 24 years in mid-January, nearing $1.35.
UK financial shares fell in Monday trading after the government increased its stake in Lloyds Banking Group.
Against the euro, the pound was down one-and-a-half cents at 1.098 euros.
"What's going on in UK shares at the moment is putting pressure on sterling," said Geraldine Concagh at AIB Group Treasury.
She added that the Bank of England's programme of quantitative easing will put further downward pressure on sterling.
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