Currency broker Caxton FX warns that parity between the pound and the euro could be reached as soon as next month.
The news comes as sterling plunged to fresh five-month lows against the currency used by 16 countries in the eurozone. The pound fell to 1.11 euros in mid-morning trade before recovering to 1.107 euros in afternoon London trade. Sterling took a battering this week after the Bank of England raised the possibility of a long-term fall in the currency's value as the credit crisis may put off foreign investors from buying UK assets. It has fallen 6% against the euro in one month. The Bank of England's minutes for its September Monetary Policy Committee meeting will be closely examined ...
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