THE TELEGRAPH: Sterling was under pressure on Tuesday morning as investors reacted to the news that Labour and the Liberal Democrats are now engaged in official talks over a possible coalition.
The pound continued a slide that started toward the end of trading on Monday after Gordon Brown's unexpected announcement that he will manage negotiations with the Lib Dems before standing aside as Labour leader.
Within minutes of currency traders arriving at the desks on Tuesday, the pound had given up another half a cent against the dollar to trade at around $1.4780. It remains above its recent low of $1.4476, helped by the overall lift given to markets by the half-trillion euro bail-out package negotiated in Brussels. >>> | Tuesday, May 11, 2010
