THE BRITISH POUND
SPECULATORS CHANGE TACTICS FALL CHECKED Press Association —By Telegraph—Copyright LONDON, August 28. The ‘ Daily Telegraph’s ’ city editor says: “Continental speculators who have been selling sterling suddenly changed their tactics and began to sell Continental gold currencies, with the result that the fall in the pound was checked. The change of front was due to rumours that Holland might be forced off gold and thus break up the gold bloc. Holland, however, denies weakening the bloc. The British Exchange Equalisation Fund has been freely used to counter sales of sterling, which are traceable to speculators who believe that President Roosevelt is heading for inflation and the pound is likely to be depreciated step by step with the dollar. The present position is that the dollar is unlikely immediately to be devalued, and the pound is suffering, nothing more than the usual autumn weakness when the bulk of British imports have been paid for.”
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Evening Star, Issue 21811, 29 August 1934, Page 7
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155THE BRITISH POUND Evening Star, Issue 21811, 29 August 1934, Page 7
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