Archive for March 12th, 2013

New Overnight Developments Abroad - Daily Update

Sterling Exhibited a Heavy Tone

March 12, 2013

Sterling sank to a low of $1.4832, its weakest dollar level in about 2-1/2 years.  The trigger for today’s decline was the announced 1.2% plunge of British industrial production in January that erased December’s 1.1% advance and left production in November-January 0.9% below the August-October level.  Production in January was 2.9% weaker than a year […] More