31st March 2008 Currency Update: Pound at all time low today against the euro

Sterling slipped to a record low against the euro this morning, extending its losing streak after figures showed British house prices fell for the sixth consecutive month in March. Housing market research company Hometrack this morning said UK house prices fell by 0.2% this month to stand just 0.4% higher from a year ago, further denting sentiment on the UK economy. This led investors to drop the pound on the last day of the financial first quarter, adding to falls last week after the B of E emphasised that the British currency may have more room to fall. Right now Interbank is at 1.2543 with Natwest offering 1.2018. source:IFX