WASHINGTON Oct 7 U.S. Treasury Secretary Jack
Lew said on Friday it was necessary to give British authorities
some time to determine what drove a steep drop in the pound
before jumping to conclusions.
"Based on our own experience, it takes some time to find out
why such movements occur," Lew told a news conference at the
International Monetary Fund and World Bank Meetings in
The pound's fall by more than 10 percent against the dollar
to below $1.15 was not in line with a largely
stable exchange rate picture in recent weeks, Lew said.
"In general, we've seen exchange rates behaving in a stable
way globally responding to macro-economic movements," he said.
(Reporting by David Lawder and Leika Kihara; Editing by Andrea