Sterling smashed again

Remember Deutsch Marks? Well, as of Thursday morning, the Great British Pound Sterling was worth 2.08 DM according to one friendly trader.

That’s an all time low, apparently.

As for comparisons with this new-fangled euro thing, parity now looks just a step away.

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We could blame Charlie Bean, the Bank of England deputy governor, who told the FT that UK interest rates may fall close to zero and that conditions were so bad another bank bailout might be on the cards.

But that would be unfair. The numbers speak for themselves.

Related link:
Charlie Bean interview – FT

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