Uk Pound:Pound falls sharply on election jitters

Uk Pound:Pound falls sharply on election jitters:The British pound fell sharply against the U.S. dollar and the euro on Monday, as worries about the outcome of the U.K. general election and the high fiscal deficit put the currency under heavy selling pressure.
Sterling intensified its losses after Prudential /quotes/comstock/13*!puk/quotes/nls/puk (PUK 15.79, -2.71, -14.65%) /quotes/comstock/23s!a:pru (UK:PRU 526.50, -75.00, -12.45%) said it will buy AIA, the Asian operation of American International Group, for $35.5 billion of cash and stock.
The British pound dropped 2.4% to $1.4870, falling below $1.50 for the first time since May 2009. It earlier hit an intraday low of $1.4772.
The euro rose 1.6% against the British pound.

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