Pound climbs as markets bounce after Fed cut
The pound continued to make a small recovery against the dollar this morning,
as the reaction to the Federal Reserve's interest rate cut continued to be
absorbed by markets around the world.
Fed cuts key interest rate half-point to 1 percent
The Federal Reserve slashed a key interest rate by half a percentage point Wednesday, driving it to a level seen only once before in the last half-century, and the government finally began distributing funds from the billions in the financial rescue package.