Unemployment warning sends pound tumbling
David Blanchflower, the arch-dove on the Bank of England's Monetary Policy Committee (MPC), today forecast that the UK economy is heading for an "unpleasant shock" with unemployment set to spike in October.
Sterling fell to a two-and-a-half year low against the dollar as markets digested Mr Blanchflower's comments, sending the pound down to $1.7460 — a level last seen in April 2006.
Not sure what an "arch-dove" is.
I think it will sink to about 1.1 euro , 1.5 $, (ballpark) over the next 9 months - any opinions?
David Blanchflower, the arch-dove on the Bank of England's Monetary Policy Committee (MPC), today forecast that the UK economy is heading for an "unpleasant shock" with unemployment set to spike in October.
Sterling fell to a two-and-a-half year low against the dollar as markets digested Mr Blanchflower's comments, sending the pound down to $1.7460 — a level last seen in April 2006.
Not sure what an "arch-dove" is.
I think it will sink to about 1.1 euro , 1.5 $, (ballpark) over the next 9 months - any opinions?
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