Pound Suffers Largest Percentage Drop Since 1992
The pound seems to have stabilized somewhat today after losing 5.2% against the dollar yesterday, marking its greatest single-day percentage loss since 1992. More
RBA Rate Cut Boosts Aussie Dollar
The Royal Bank of Australia lowered interest rate by one percentage point to 4.25 percent. This marks the fourth cut since September as the Australian economy struggles in the face of weaker demand for its exports. More
UK Construction Continues to Shrink
The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction index shows that construction in Britain declined at a pace not seen in ten years with the index falling from 35.1 on October to 31.8 in November. An index under 50 indicates that the sector is shrinking. More
Oil Falls to Below $48 a Barrel
Trading in London for January delivery of Brent Crude fell 54 cents to $47.43 – the lowest price since 2005. More
