The Archive · 1935

Sterling Weakness Supported

Paris, Feb, 16, The weakness of sterling to-day, which necessitated intervention by British control, is giving rise to the wildest rumour Some quarters have. express the opinion that the British control fund, which last year held earmarked gold in Paris to the value of six milliard francs, has disposed of this amount the support of sterling and has now: shipped a further 200 million francs. to- Paris.

The view is held here that if sterling falls sharply against the dollar, the United States may resume lis policy of raising the gold price towards a Afty-cents dollar, Fears ave also expressed for gold currencies should sterling fall below 70 francs, The this event it is anticipated that Continental funds would be recalled from London, which would increase the pressure on sterling—Reuter,

Text read from the printed page and cleaned; old type leaves the occasional error.

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