The pound strengthened against the dollar, crossing the $2 level in a rate not seen since 1981.

Interest rates were lowered by one percentage point to 14 per cent, and the pound strengthened.

But the pound strengthened later in New York to trade at $1.77675, up from $1.7730.

The British pound strengthened to $1.7220, from $1.7155 on Wednesday.

The British pound strengthened to $1.6825 from late Monday's $1.6795.

It is expected that the pound will strengthen if Britain joins the mechanism.

And the pound had strengthened to $1.6974, more expensive than the $1.6970 price Friday.

If rates go up and the pound strengthens, we lose big orders.

The British pound also strengthened, to $1.9660, from $1.9655 late Friday.

The pound has strengthened around 9 percent against the dollar over the last six months.