Pound Weakens Against Dollar and Euro

The Guardian reports that the pound weakened further against the dollar today following Bank of England governor Mervyn King's comments yesterday that he would consider using "unconventional measures" to pull the British economy out of what he described as a "deep recession".

Sterling fell 1.3 percent to $1.4196 around midday, its lowest level since February 3, while the euro was up 0.9 percent at 90.48p (€1.1066 to the pound), its highest since February 4.