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POUND SLUMP FUELS FEARS

ABOVE: The pound fell sharply amid new fears that Britain will be struck down by a debt crisis

9th February 2010

By Daily Star Reporter

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THE pound fell sharply yesterday amid new fears that Britain will be struck down by a debt crisis.

Sterling tumbled to a near nine-month low against the dollar of $1.5536.

It came as traders concerned over the dire national debt situations in countries such as Greece, Portugal and Spain sold risky assets. They were also spooked by polls showing the Conservative lead over Labour falling.

Such moves make a hung parliament more likely and decisive action on cutting debt more unlikely.

Analysts warned the pound could still fall further against the dollar. Investors are waiting for what the Bank of England says in tomorrow’s quarterly inflation report.

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