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Pound hits low against euro as recession looms

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 Picture: (AFP/File/Shaun Curry)
A pile of pound coins. The pound hit yet another two-year low against the dollar, in what is fast becoming a daily occurrence for the battered currency.

The pound fell to an all-time low against the euro today after Britain’s Treasury chief Alistair Darling says the country was facing the worst economic crisis in 60 years.
Darling’s comments over the weekend were underscored by a raft of new economic data – covering everything from house prices and mortgage lending to manufacturing – indicating that Britain is on the brink of a recession.