The British pound fell again today and the traders are sending a warning message that the sterling could even plunge to $1.20 in the coming weeks.   The UK currency plunged to a 23-year low at $1.3503 following recent figures that show the UK economy fell by an alarming 1.5 percent in the last quarter of 2008. The pound also dropped against the Japanese yen at 118.90 yen and traded down 0.28 of a cent against the euro. Foreign exchange expert Ian Stannard stated: ... Read More

Expect the worst in 2009. This should be taken seriously in order to brace for  the British recession in the coming year. Corporate Britain is forecast to experience a worsening external deficit and a sudden decrease in the spending power of consumers. According to the British Chamber of Commerce through their quarterly economic forecast, the upcoming year can witness a worse economy. The recession can still be avoided though but the noticeable drop in economic growth has given serious pressure to British businesses. ... Read More