Mon, 09/01/2008 - 12:19 — Damien Bluestone
Today (Monday 1st September) sore the dollar extend its gains against the Sterling, pushing it to its lowest level against the dollar for over two years. The Sterling’s dip came as the British finance minister, Alistair Darling warned of a worsening economy.
The market also braced itself for the hurricane off the Gulf of Mexico, which has halted oil production in the region, pushing the price of oil higher.
The sterling is set to face more losses, as the US market is closed today due to a public holiday. Trading in New York will resume on Tuesday.