The British pound moved sharply lower vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.5350 level and was capped around the $1.5530 level. Bank of England Monetary Policy Committee member Fisher said the economic outlook is hugely uncertain. Fisher added Double dip (recession) is something that would likely happen if there was some exogenous, extraneous shock that came along and hit the economy. It's not something that you can forecast. It was announced today that Kate Barker will leave the MPC and Spencer Dale was reappointed to the MPC. Cable bids are cited around the US$ 1.5340 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ?0.8790 level and was supported around the ?0.8705 level.
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