Sterling drops to one month low against the euro
STERLING dropped to a fresh one month low yesterday against the euro, dipping below €1.1190/£1 as the euro zone shrugged off concerns over Greek debt and the IMF raised the prospect of further quantitative easing in the UK.
Sterling fell to a four-month low against the dollar as worries about the extent of Spain's problems and the risks that it may have to seek outside aid to bail out its banks drove investors into safer assets.