Pound moves back towards the 2.00 Dollar barrier

Pound moves back towards the 2.00 Dollar barrier

Sterling seemed to feed on the back of a weak dollar yesterday as a move towards the $2.00 mark is back on the cards. The move came at 5.00pm last night as the dollar started to weaken against a basket of currencies and lost over 2 cents against the pound. The pound has hit $1.9940 already this morning and it won’t take much to breach the $2.00 mark. Against the euro, the pound is little changed, slightly down from yesterdays opening. There was also a warning by the deputy governor of the Bank of England that the central bank fears the largest ever peacetime liquidity crises. The BoE’s Rachel Lomax warned that the ongoing credit crunch had left the Monetary Policy Committee uncertain as to its next move as it and fellow central banks face up to the disruption to the financial