Sterling is sliding on worries over US stand-off
Sterling slipped against the euro today as traders’ fears rose that the US political budget stand-off could take the steam out of the British economy's recovery.
The euro rose against the pound to 84p, its strongest level in a week and a half. The pound was also down slightly against the dollar at $1.6107.
Asian equity markets dropped overnight in the wake of yesterday’s striking warning from the US Treasury that a failure of Congress to approve a rise in the federal debt ceiling by 17 October risked plunging the world’s largest economy into another Great Recession.
Japan’s Nikkei 225 index ended down 0.9% and the Hang Seng in Hong Kong lost 0.33%. President Barack Obama has been forced to cancel a visit to the region scheduled for next week because of the budget crisis.
However, equity markets in Europe were steady, with the FTSE 100 trading flat and Germany’s DAX and France’s CAC up slightly.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Germany sees 'visible rise' in support for far-right extremism in response to perceived 'Islamisation' of the West
iJobs Money & Business
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...