Global Economy

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<b>Pound Slumps to Record Versus Yen; Rogers Says U.K. ‘Finished’</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Jan. 20 (Bloomberg) -- The pound dropped to a record low versus the yen and the weakest level since 2002 against the dollar on concern the government will have to rescue more banks as the economy slips into its worst recession since World War II.

Jim Rogers, chairman of Singapore-based Rogers Holdings, said the<b> “U.K. is finished” and investors should sell the currency</b>. Commonwealth Bank of Australia said there was a <b>high risk of a cut to the country’s credit rating outlook and lowered its pound forecast.</b> Prime Minister Gordon Brown authorized a 100 billion pound ($142 billion) bailout for banks.

“I would urge you to sell any sterling you might have,” said Rogers. “It’s finished. I hate to say it, but I would not put any money in the U.K.” Rogers correctly predicted the start of the commodities rally in 1999.

<b>The pound slid to 127.44 yen, the weakest since at least 1971</b>, as of 2:23 p.m. in Tokyo from 130.71 yen yesterday in London, according to data compiled by Bloomberg. It declined 2 percent to $1.4133, the lowest since March 2002, and last traded at $1.4185. The currency slid 1.1 percent to 91.58 pence per euro.
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India is now in high risk zone. I suspect Government is hiding or cooking books.
Yerterday market was up and today it was down, Short selling is still on and big manipulation by local groups. I don't think international funds are manipulating Indian Market for last 10 days.
I don't think Moron Singh is watching Finance Ministry.
Indian Currency at 49 raise ?????