STERLING climbed to fresh three-and-a-half-year highs against the euro yesterday as Spain's financial troubles, amid the wider eurozone debt crisis, overshadowed the recent slew of grim economic releases for the recession-blighted UK.
The euro, weighed down by news that the Valencia region of Spain would seek central government help to repay its debt, hit an intra-day low of 77.68p. This was its weakest since October 2008 – the month after the collapse of US investment bank Lehman Brothers.
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