Pound falls on 'recession risk'

Monday, March 22, 2010

The pound has fallen sharply against the dollar and the euro after a Bank of England policymaker said the UK could yet fall back into recession.

The pound fell 2.4 cents, or 1.5 percent, against the dollar, to $1.503. Against the euro, it fell 1 cent, or 0.9 percent, to 1.100 euros.
The Bank's Monetary Policy Committee member Andrew Sentance said there was a chance of a double-dip recession.

The pound has been falling recently in the run-up to the general election. "You have to recognise there is some risk of a double dip, but that's not the central forecast,"

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