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Bank charges: Pound falls against the dollar

The pound has fallen against the dollar, putting it at a two and a half year low.

It fell to $1.4832 against the US dollar, which is the lowest value that has been seen since 2010. The euro also rose against the pound.

This news came around the same time that figures in manufacturing output for January were due to be released. It was expected that this sector would show little or no growth, but instead reported a decline.

Recently, the value of the pound has been falling against the dollar due to the uncertainty of the domestic economy and a recent downgrading of the UK’s credit rating.

Last month, the major credit agency Moody’s downgraded the UK from AAA to AA1.

Following this decrease in the value of the pound, coupled with the state of the economy and the country’s credit downgrade, fears have been raised that Britain will enter into a triple dip recession.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801554884-ADNFCR



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