Caxton warns pound will reach parity with euro

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 ...