SHARP STERLING SLUMP
NEW YORK’S LOW RECORD (Australian and N.Z. Press Association) Reed. 9 a.m. NEW YORK, Thursday. The quiet foreign exchange market was featured by a sharp slump of sterling to a new low record for the year, far below the point at which gold can be purchased in London without loss. Sterling dropped to 4.84 13-16 for cablegrams, but the decline was accompanied by extreme strength m futures, particularly in the December opt' n, which held obstinately at 4.80 The spread between all futures and the spot rate is widening.
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Sun (Auckland), Volume II, Issue 477, 5 October 1928, Page 9
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92SHARP STERLING SLUMP Sun (Auckland), Volume II, Issue 477, 5 October 1928, Page 9
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