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Pound touches new US dollar highs BBC The UK pound has continued to gain against a weak US dollar on speculation that interest rates may be cut to help revive the world's biggest economy. On Thursday, Federal Reserve boss Ben Bernanke warned of a noticeable slowdown in the US in coming months. With interest rates unlikely to fall in other key markets the dollar's rate of return looks unappealing to investors. Sterling hit $2.1144 earlier for the first time since the early 1980s, while one euro hit a record of $1.4738.
The dollar also shed 1.6% against the Japanese yen on Friday, trading at 112.10. In morning European trade, the dollar steadied making back some of its losses to trade at $2.1095 against the pound and $1.469 against the euro.
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