Asian markets drop again but sterling holds up after recovery

HONG KONG (AFP): Asian markets sank Friday (Sept 30) after another devastating day on US and European trading floors, with inflation continuing to soar and central bankers getting increasingly hawkish in their attempts to bring prices under control.

Sterling, however, managed to hold gains after clawing back more of the huge losses suffered at the start of the week owing to a tax-cutting mini-budget that analysts warned could cause even more pain to the already fragile UK economy.