BBC: The pound has touched a fresh all-time low against the euro, hit by market expectations that the Bank of England will further cut UK interest rates.
With the Bank widely tipped to trim rates to 5% from 5.25% on Thursday, one pound was worth as little as 1.2500 euros in early Wednesday trading.
Sterling later strengthened slightly, with one pound worth 1.2552 euros.
Interest rate cuts generally encourage investors to switch to other currencies that have a higher rate of return. Pound Falls to All-Time Euro Low >>>
The Dawning of a New Dark Age (Paperback)
The Dawning of a New Dark Age (Hardback)
