Both gave grim reading and an all time low against the Euro was achieved.
Sterling dropped further in afternoon trading as the US treasury announced changes to the bailout package and Sterling/Dollar trade below the 1.50 level to reach a five year low against the dollar.
The greenback made major gains on most pairings only the Euro and Yen offering any resistance. The Euro held the crucial 1.25 level although that has been broken this morning after German GDP 3RD quarter figures show that German economy was in it’s worse state for 12 years.
There is various data out of the Eurozone over the next day or two with also Mr. Trichet speaking tonight the single currency could now be in for a rough ride. In the US this afternoon we have their trade balance due at 13.30 UK time alongside their weekly jobless claims figures. Later we have a Fed official giving an address and we also have the Feds budget figure due later.