AT LOW EBB
INVESTMENT MARKET
FIGHT TO PROTECT STERLING
By Telegraph—Press Association—Copyright.
(Received October 22, 11.30 a.m.)
LONDON, October 21
With investment interest at a low ebb the City's attention is now focused on the stabilisation of sterling, which, after prolonged pressure, has recovered substantially on a largerscale "bear" covering during the middle of the week, although Continental and American holders in bursts of selling forced down the rate to 4.75 £.
The vigorous intervention of the exchange fund at that point suggests that the authorities intend to hold sterling at4.75J.
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https://paperspast.natlib.govt.nz/newspapers/EP19381022.2.124.14
Bibliographic details
Evening Post, Volume CXXVI, Issue 98, 22 October 1938, Page 12
Word Count
90AT LOW EBB Evening Post, Volume CXXVI, Issue 98, 22 October 1938, Page 12
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