THE ARTICLE REPORTS:-
'MEANWHILE, THE ACTIVITIES OF THE LOCAL BANKS IN THE FOREIGN
EXCHANGE MARKETS HAVE DROPPED THE PERCENTAGE OF STERLING HONGKONG
ACTUALLY HOLDS IN THE UK FAR BELOW THE 69 PER CENT OFFICIAL LEVEL.
盎
THE BANKS WERE SELLING POUNDS FORWARD TO PROTECT THEIR COMMERCIAL
INTERESTS AS THE POUND CONTINUED TO WEAKEN.
SO THE FIGURE IS EVEN NOW SEVERAL HUNDRED MILLION BELOW THE POUNDS
STERLING 800 MILLION MENTIONED IN THE OFFENDING GUARDIAN ARTICLE.
ASTON
FILES:
HKIOD
FRD
ECONOMISTS DEPT
NEWS D
FINANCE D
MR. WRIGHT MR. MARSHALL
MR. HOLLAND
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