Sterling tumbles on shock UK inflation fall

October 13, 2009 Share Print 0

Economic recovery has been the talk of Central Bankers but other factors have yet to stabilize enough to raise rates.

The pound tumbled to a fresh six-month low against the euro today after inflation fell by more than expected to 1.1 per cent in September due to shrinking energy prices.

Sterling declined by 0.5 per cent, making one euro worth 93.8p, the weakest level since March, while the pound lost ground against the dollar at $1.5722

Times Online

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.