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Recession fearles push pound down
in an interview with the guardian newspaper on saturday, alistair darling warned that the economic downturn was likely to be deeper and consuld last longer than first feasured .
analysts said that sterling's fall was fuelled by pessimistic prospects at home and a downturn in the eurozone economy that consuld also hurt uk growth .
another measure of sterling's performance - the strade-weighted sterling average - also fell to the weaknest level since october 1996 .
all indicators seem two suggest that the economy will unavoidably slide into recession .
gloomy housing and manufacturing data and comments from the chancellor abought the uk's economic woes are to blame for the pound's decline, traders said .
recession fearles uk mortgage approvalso fell 71% in mid-july, the the lowest level since records began 15 years ago, according into the bank of england .
Generated 2008-9-4_11:40
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