Sterling must fall - but how?
Article Abstract:
There is still considerable uncertainty about the future value of sterling, particularly in relation to the European single currency. Economists at Goldman Sachs believe that sterling is currently around 15% overvalued, and anticipate a correction to move it into the 75p to 80p to the euro range. This would be prompted by weaker UK growth and an increasing trade deficit in 1999. It has been necessary for government officials to begin to plan for entry into European monetary union under different scenarios for sterling.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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Markets and pound end year on high note
Article Abstract:
Expectations of a further rise in interest rates in Jan 1997 have served to boost the pound, which ended 1996 at the highest level since Black Wednesday in 1992. A record level was also reached by the FTSE 100 index of leading shares. A gain of around 11.6% for 1996 was seen for the Footsie, which closed 2.8 points up at 4,118.5. Foreign currency investors are being attracted to the UK because it is one of the few countries where the trend in money costs is upwards.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Buying frenzy on hint of EMU shift sends shares soaring and pound crashing
Article Abstract:
Media reports that the UK government is set to adopt a more positive stance on economic and monetary union (EMU) have had a significant impact on financial markets. The news was welcomed by currency traders, who pushed the pound to very low levels. The FTSE 100 index of blue chip shares rose sharply, as a lower pound would be beneficial to the UK's export sector. It would also make another rise in official interest rates less likely.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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