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Trade-weighted sterling drops to 3-week low - BoE data
November 14, 2012 / 9:12 AM / 5 years ago

Trade-weighted sterling drops to 3-week low - BoE data

LONDON (Reuters) - Trade-weighted sterling fell to its lowest in three weeks on Wednesday with the British pound hurt by losses against the euro, data from the Bank of England showed.

The index fell to 83.5, its lowest since October 24 as the euro gained nearly 0.4 percent on the day against sterling to 80.36 pence.

Sterling also hit a two-month low against the dollar of $1.5841 after the BoE left the door open for more quantitative easing and Governor Mervyn King flagged sterling’s recent gains as an impediment to faster economic recovery in the UK.

reporting by Anirban Nag; editing by

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