http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDeya8Ha_0Vk
Dec. 29 (Bloomberg) -- The U.K. pound weakened to a record 98 pence per euro after an industry report said house prices will probably extend declines next year, boosting the case for deeper interest-rate cuts by the Bank of England.
Britain's currency also dropped versus 14 of its 16 most- traded counterparts, falling for a second day against the Swiss franc and tumbling to a 14-year low against Japan's yen. Property research company Hometrack Ltd. said U.K. house values slid 8.7 percent this year, led by a 10.1 percent drop in London, and that prices will "inevitably" decline in 2009.
Tue Dec 30 00:59:00 2008(EST)
* 30 Dec 08: 05:59(SGA) - FX NOW! EUR/CHF, USD/CHF Flows : Thin year end markets, focus on Israel/ Gaza attacks
Thin markets, exaggerated moves as Japan closed early for New Year holidays. USD/JPY dipping to 90.10-15 from 90.20-25, and USD/CHF to 1.0515-20 from 1.0530-40, and EUR/CHF trading around 1.4845-50. Focus still on the ongoing Israel/ Hamas fighting. USD/CHF off its 5-month lows of 1.0370 seen yesterday, while EUR/CHF off the 6-week lows of 1.4758 seen yesterday, lowest since November 12 lows of 1.4705. WL
