Rumours doing the rounds today

The euro climbed against sterling this morning as rumours circulated about possible trouble at a UK bank in an already very jittery market.

Rumours have also circulated meanwhile that the European Central Bank may be looking at intervening to curtail the euro's rise, though again this is seen as unlikely.

Many are sceptical, however, about how much truth there is in this, especially given that a very jittery market is awash with rumours on a day when the euro has surged through the psychologically important USD 1.50 mark.