Proposed 73p entry point sends sterling sharply down

Sterling fell sharply on 9 June 2003 following the publication of a UK Treasury paper proposing 73 pence as the ideal euro entry rate for the pound. The study written by Professor Wren-Lewis of Exeter University is one of the 18 supporting studies to the Treasury's assessment of the five economic tests. Article is part of a Financial Times Special Report, the 'Euro Decision'.