Borrowing Up, Unemployment Up, Pound Down

28 July, 2011


This morning’s data has brought the Pound’s recent surge to an abrupt halt – public borrowing has risen to £19.1bn for March and official unemployment figures show a rise to 6.7%.

The Pound has been suffering accordingly, dropping nearly 1c against both the US Dollar and Euro. We still have around the best exchange rates for dollars and euro for some time, but with the budget this lunch time analysts are concerned that there is further to fall for the UK currency.

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