Pound still easing
Sterling weakened in Fri-i day’s trading on the London! foreign exchange market, opening at $2.4540 but sliding' to $2.4477-$2.4497. It is a devaluation of almost 15.5 per cent on the Smithsonian parity. Although still a wide spread it was 20 points closer than on Thursday, which was , indicative, market sources said, of a little improvement in market conditions. The market was gaining confidence, contrary to opinion earlier in the present currency upset when it was felt the pound could not remain at those levels. “I think it is quite a good, [note on which to end the [week.” one dealer said.
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Press, Volume CXIII, Issue 33154, 19 February 1973, Page 16
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104Pound still easing Press, Volume CXIII, Issue 33154, 19 February 1973, Page 16
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