Sterling rallies amidst base rate cuts

Commenting on the Pound's further gains against the Euro, Stephen Heath, Chief Executive of FairFX.com, said: "The Pound has rallied amidst news of the base rate cut, gaining one per cent against both the Euro and the Dollar. The Pound is now trading at €1.1211 and $1.5232 to £1 - and it is expected to claw back further gains in the coming months as Europe and America start to look as vulnerable as rival economies."