Bloomberg News

Pound Erases 0.6% Loss Versus Euro; Stays Weaker than 90 Pence

July 01, 2011

July 1 (Bloomberg) -- The pound erased a 0.6 percent decline against the euro, retreating from a 15-month low and paring its steepest weekly drop in a month.

Sterling was little changed at 90.361 pence to the euro as of 2:19 p.m. in London, after reaching 90.84 pence, the weakest intraday level since March 2010. The move pared the pound’s decline this past week to 1.6 percent, the steepst since the five days ended June 3.

The pound has traded weaker than 90 pence per euro for each of the last three days.

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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