Pound Poised for Weekly Decline Against Dollar as Investors Shun Risk

(Bloomberg) -- The pound is poised to snap a six-
week rally against the dollar as global stocks slump and
investors pare so-called carry trades on concern U.S. subprime
mortgage defaults will slow global growth.

The U.K. currency may slide for a third day from a 26-year
high against the dollar as investors reduce purchases of assets
made with borrowings in Japan and Switzerland, which have the
lowest rates among major economies. The pound yesterday fell as
much as 1.8 percent against the yen, the most in five months.


Read more at Bloomberg Currencies News