Bloomberg News

Pound Declines to Almost Two-Month Low Against Euro; Gilts Fall

June 29, 2011

June 29 (Bloomberg) -- The pound declined for a third consecutive day against the euro, sliding to an almost two month low versus the shared currency.

Britain’s currency depreciated as much as 0.4 percent to 90.13 pence per euro, the weakest intraday level since May 5, before trading at 90.02 pence as of 9:08 a.m. in London. The pound bought $1.5989, from $1.6001 in New York late yesterday.

Gilts fell for a third day, raising 10-year yields by five basis points to 3.31 percent.

To contact the reporter on this story: Garth Theunissen in London at gtheunissen@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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