Written by Terri Belkas, Currency Strategist The British pound held to a range of 1.6900 - 1.7150 on Friday, holding up fairly well versus the dollar compared to currencies like the euro, which plunged. For once, the UK is looking to be somewhat ahead of the curve as they have enacted aggressive policies meant to stabilize the markets. Though it did not prevent the FTSE 100 from falling, as the index closed down 8.85 percent, the UK government announced plans on Wednesday for a 50 billion pound strategy to partly nationalize at least eight British banks. Furthermore, UK Chancellor of the Exchequer Alistair Darling proposed that nations should guarantee lending between banks, either by turning central banks into clearing houses for the loans or having governments back them. The suggestion has not been ruled out...
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