Euro recovers as pound falls

The euro rose yesterday one per cent against the dollar after it reached its lowest level in six months, writes BBC News. At the same time, the British pound shed half a per cent to hit a six-month low against the dollar.

Currency markets seemed nervous ahead of the release of the Confederation of British Industry’s (CBI) report on manufacturing. "We're expecting the CBI report to be on the weak side and this could be negative for sterling," said Jeremy Hawkins, chief economic adviser a...