Pound Hits Near Six-Year Low Against Dollar

The pound has slipped to a near six-year low against the US dollar as prospects of a UK interest rate hike fade amid gathering gloom for the domestic and world economies. The fall is good news for UK manufacturers trying to sell their goods at competitive prices abroad. It comes a day after forecasts for UK growth in the fourth quarter of 2015 were revised lower as figures showed the expansion in the dominant services sector slowed last month .