THERE were mixed fortunes for manufacturers and the public yesterday after the pound tumbled to a four-year low against the euro.
The news was good for industry, making it possible for British manufacturers to compete on a more level playing field with their foreign competitors.
But holidaymakers travelling abroad will get less for their money.
Business analysts suggested the euro would continue to outperform the pound and the US dollar in the coming weeks as speculation about impending war with Iraq affects both economies.
On Thursday, sterling fell to 67.87p against the euro after gloomy figures on manufacturing industry and high street sales prompted fresh concerns about the UK economy.
Yesterday, it struggled at 67.94p and analysts warned it could tumble further.
Mike Lenhoff, chief strategist at Brewin Dolphin Securities, said the pound could reach 70p against the euro if the flow of poor news continued.
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