THE STERLING
NO OCCASION FOR ALARM. RECOVERY DUE TO SELLING CESSATION. (United Press Association. —By Electric Telegraph.—Copyright.) LONDON, December 3.
Observing the pound’s recovery the “Daily Telegraph’s” 'city editor point-s out that huge balances are awaiting repatriation when the pound becomes temptingly cheap. Foreign speculators, who are partly responsible for the ■sterling’s downfall apparently overlooked this fact. There was no occasion for concern about ’sterling given fundamentally sound conditions, wherefore the Government is striving.
The “Financial News” says: “The marked recovery: of the sterling is attributed to the cessation of selling from the Dutch quarter, but it . i? understood that one of the big five British banks is a. strong buyer of ster ling, and believed to be operating on its own account.
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Hokitika Guardian, 4 December 1931, Page 5
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123THE STERLING Hokitika Guardian, 4 December 1931, Page 5
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