sterling

Sterling has risen to a seven-month high against the dollar after the UK's unemployment rate unexpectedly dipped from 7.8% to 7.7%.

Sterling dropped and then recovered sharply minutes after new Bank of England Governor Mark Carney told the world he has no plans to raise rates any time soon, but was upbeat on UK growth.

The UK economy grew by 0.7% in the second quarter of 2013, a higher than previously estimated figure, according to latest figures from the Office for National Statistics.

Sterling rose against other major currencies this morning after the minutes from Monetary Policy Committee (MPC) meeting showed most members backed Mark Carney's forward guidance policy on interest rates.

London's leading share index fell quickly into the red after new Bank of England (BoE) governor Mark Carney unveiled plans to issue market's forward guidance on interest rates.

Sterling and gilt yields have jumped this morning after the latest Monetary Policy Committee minutes revealed Mark Carney and all other MPC members voted against more QE in July.

Aggressive selling of sterling following last week's guidance on rates from the Bank of England has taken the pound to its lowest level in three years versus the dollar in trading today.

Geoff Hitchin, manager of the Marlborough Global Bond fund, looks at how investors can protect their portfolios against any further weakening of the pound.

The incoming governor of the Bank of England (BoE) may introduce more quantitative easing and attempt to devalue the pound, the world's biggest bond fund manager predicted yesterday.

The Euro Group's new president has warned the UK could be facing a "new sterling crisis" as concerns grow over the state of public finances.