By Leigh Smith

Sterling has made some quite considerable losses so far during Thursday’s trading, with the Pound losing 1.4% on the Euro, 1.7% the US Dollar, and 1.6% against both Aussie and Kiwi Dollars.

The main reason that seems to be driving Sterling exchange rates down is Mervin King speaking earlier today where he confirmed, and seemed comfortable with, the fact that the weak Pound was helping the economy through increased exports.

Market analysts have said that this has helped ‘revive momentum to dump the Pound’, and how yesterday’s gains were ‘overdone’.

With Sterling being dumped as such on the scrapheap, the question you may ask yourself is how low will these levels fall to? It may be wise to think back to the start of 2009.