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Bank of England says looking into cause of sharp fall of sterling
October 7, 2016 / 9:15 AM / a year ago

Bank of England says looking into cause of sharp fall of sterling

LONDON (Reuters) - The Bank of England is investigating the cause of a sharp fall in the value of the pound in overnight trading in Asia, a spokesman for the central bank said on Friday.

Pedestrians walk past the Bank of England in the City of London, Britain, May 15, 2014. REUTERS/Luke MacGregor/File Photo

“The Bank is looking into last night’s fall in sterling,” the spokesman said.

Traders have said they believed computer-initiated sell orders pushed the pound down steeply earlier on Friday which left the currency on track for its worst week since the Brexit vote in June.

Writing by William Schomberg; Editing by Alison Williams

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