The recent decline in sterling has been accompanied by rumours that sterling mzy be depreciated against the dollar. However, wull-informed quarters pointed out that developments in Great Britain and other countries fully explain the decline without reference to any intention te seek a lower quotation for sterling by Great Britain.
The fundamental factor in sterling, it is seid, would be an unfavourable balance of payments, while cunditions in other countries, where the activities of the British Equalisation Fund are in operation, served to obscure this influence but was not able to eliminate it.
At present, it is said, it is not likely that the dollar and sterling relation will suddenly be disturbed, because of the following factors:
Text read from the printed page and cleaned; old type leaves the occasional error.