Sun, Aug 25, 2013 - Page 15 News List

Rupiah, rupee lead drop in Asia as Fed spurs outflows


The pound posted its biggest weekly slide versus the euro since May as investors bet Bank of England Governor Mark Carney will use a speech next week to affirm his intention to hold borrowing costs at an all-time low.

The pound depreciated 0.8 percent this week to £0.8597 per euro at 5pm London time on Firday, the steepest decline since the period ended May 24. Sterling fell 0.4 percent to US$1.5575 after gaining 2.2 percent in the previous two weeks.

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