UK pound is lower in forex trading on the currency market today, thanks in large part to the comments of a Monetary Policy Committee member.
Bank of England member Weale indicated that a lower sterling might be need in order to help the UK economy. The news set off some selling related to the British currency.
Concerns about the UK pound have been present for quite some time, thanks to the current situation, which sees sluggish economic growth but inflation that is above the target. This is weighing on the UK pound, and there are concerns about what could be next for the currency.