Traders said the pound was driven lower by an opinion piece from Mr McCafferty, published by The Times, which said the Bank could… The value of the pound fell to its lowest level in a month yesterday after the UK’s trade deficit widened to a seven-month high and a Bank of England policymaker revealed that further quantitative easing may be needed in the UK. Ian McCafferty, a member of the interest-rate setting monetary policy committee, said more easing could be delivered “easily”, adding that the bank rate could also be cut further from 0.25 per cent and “closer to zero”.

Source: The Times August 09, 2016 23:15 UTC