The pound has become increasingly weak in recent weeks, it has been reported.
It is believed that the downward movement has resulted from rising expectations that the Bank of England's monetary policy committee will make further cuts to the base rate of interest in the new year.
And the Bank's deputy governor Charles Bean has stated that the government may now have to consider further capital injections, following the £37 billion that has already been invested in the UK's three main banks.
"I think it is quite likely that some further action may be required to bolster bank lending," he stated.
He went on to claim that he believed interest rates may reach zero, but denied claims that this would have occurred by January.
Meanwhile, UK retailers are now suffering the worst trading conditions in 25 years and many are expected to be forced to close their doors in the new year.
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