Pound trading close to an eight week high

GBPEUR/GBPUSD

The Pound is currently trading close to an eight week high against the struggling Euro, as speculation intensifies over the probability of a financial aid package for Ireland. Concern is spreading that the fallout from the Irish banking turmoil will spread to other nations in the Euro-zone, as shares in Royal Bank of Scotland Plc plummet to a four-month low.
Sterling recovered from the previous day's decline against the Euro, only the second decline in nine days, as EU and IMF officials prepare to meet and discuss the books of Irish banks tomorrow. The Pound has continued to lose ground against the U.S Dollar, falling to a low of $1.5857, despite reports that jobless claims in the UK unexpectedly fell in October..... read more