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Sunday 09th of January 2011
May 9, 2005    

Sterling down after election

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by Brian Turner
Sterling down after election

Poor UK manufacturing output figures for March plus political factors in the wake of last weeks’ general election in the UK send sterling down on Monday in relation to several currencies.

The political factor was the call from some Members of Parliament in the Labour party for Prime Minister Tony Blair’s resignation.

Sterling fell 0.3 percent in relation to the dollar, to $1.8835. It was down 0.5 percent to £0.6813 in relation to the euro as well as down 0.4 percent against the Swiss franc to SFr2.2717.

Sterling did manage to rise in relation to the yen, but only slightly, to ¥198.66.

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