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New low against Euro currency

Pound falls below €1.10

The pound has hit a new low against the Euro today, plunging below 1.10 Euro to one GBP.

Sterling is trading as low as €1.086 and it could worsen as the Bank of England signals further interest rate cuts have been discussed and will likely happen in the not too distant future.

The Pound has slipped in value by approximately 20 per cent in three months.

Currency fluctuations are causing the majority of distributors to raise prices, many of which are already visible, yet more will filter through early in 2009.

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