Darling announces restrictive measures; "Gilt" emissions reached a record high, and the British pound plunged.

[RTFX-Trading]

Darling announces restrictive measures; "Gilt" emissions reached a record high, and the British pound plunged.

The pound fell against the dollar close to the second daily support at 1.4376. The pound was down 2.5% against the yen at 141.

Darling, the British Finance minister, declared the restriction of tax reliefs for those earning more than £150,000 by April 2011 and will benefit from the allowance for income of over 100,000 pounds in April . Fuel prices will increase by 2centimes per liter in September.

In addition, the United Kingdom announced a record 220 billion pounds of emissions "Gilts" in 2009/2010, which is much higher than the 180 billion pounds expected. The "Gilts" are shares or securities issued by the government for the people who invest in a period of time at a fixed interest rate. This dramatic increase demonstrates the English fear of investors who seek refuge in investments considered "safe".

Nicolas Longchamp
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