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Beleaguered pound resumes fall towards 23-year low vs dollar

This article was originally published in Dairy Markets

The yen rose for a fourth day against the pound, returning close to yesterday's record high, in early European trading on Thursday, and held near a 13½-year peak against the dollar and a seven-year high versus the euro. The Japanese currency rose to £1 = ¥123.59 as of 0750 GMT, compared with the all-time high of £1 = ¥119.42 reached on Wednesday, on speculation that the deepening financial crisis will force the UK government to nationalise banks.

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