STERLING RATE
RECOVERY LAST WEEK IN SPITE OF FOREIGN SELLING. ACTION BY AUTHORITIES. By Telegraph—Press Association—Copyright. (Received This Day, 11.40 a.m.) LONDON. October 21. With investment interest at a low ebb, the City's attention is focussed on the stabilisation of sterling, which, after prolonged pressure, recovered substantially on large-scale bear covering in the middle of the week, although Continental and American holders, by bursts of selling, forced down the rate to 4.75 J dollars. Vigorous Exchange Fund intervention at that point suggests. that the authorities intend to hold sterling there.
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Wairarapa Times-Age, 22 October 1938, Page 6
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90STERLING RATE Wairarapa Times-Age, 22 October 1938, Page 6
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