| Log In | Register Now
Sterling again stole the limelight this morning. After a weak start (which took it down to USD1.4888) on the back of yesterday's warnings from Moody's on the banking sector, cable found support as PM Brown gave an address on the economy. With only weeks to go before the general election (favoured to be May 6), Brown acknowledged the need to address the budget deficit suggesting that senior civil servants will have their wages frozen and stressing that the UK will not lose its AAA credit rating. That said Brown also underpinned his party's line that real risks to the recovery remain and that "we must be alive to them". Brown announced a budget for March 24 which can be expected to detail the party's plan on the economy more thoroughly. Cable's recovery to the USD1.4960 level was short-lived. The pound was slammed on the release of far weaker than expected January production data. Manufacturing contracted by 0.9% m/m taking the broader measure of industrial production down by -0.4% m/m. These data are likely affected by poor weather; nevertheless they severely dampened the optimism produced by recent surveys which had suggested that the sector was improving. Adding to cable's woes was news that Barclays is looking to buy a retail bank in the US.
Who Is Paul McCartney Trends on Twitter; Users Wonder Why
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
