The strength of the US dollar on the foreign exchange markets was indicated by the parity reached between the euro and the dollar for the first time in two decades.
Deepening fears about the health of the global economy have pushed the move to parity As oil is priced in dollars, the weakening of the euro and sterling against the dollar will also have repercussions for domestic oil prices.
Sterling strengthened against the euro too with the news of the outgoing PM being ejected from no.10 in the very near future.
Currently the rate on FX markets is £1 equal to €1.17.
