Quote from ASusilovic:
The Bank of England will on Friday throw a lifeline to Northern Rock by providing emergency funding to the beleaguered mortgage lender that has fallen victim to the liquidity squeeze in the banking sector.
In an unprecedented move, the Bank, working with the Financial Services Authority and the Treasury, will step in to bail out Northern Rock by providing it with a short-term credit line that will allow it to carry on operating. The rescue, approved by the Chancellor of the Exchequer, is the most dramatic illustration to date of how the British banking sector is being hit by the wave of turmoil that has paralysed the money markets.
I think that´s the reason for GBP pressure in the last couple of hours...
