Bank of England Says 'Looking into' Pound Flash Crash
The Bank of England is "looking into" what caused the pound to slump more than six percent against the dollar in less than ten minutes Friday, a spokesman told AFP.
"We are looking into what happened," he said after sterling suffered a "flash crash" in Asia trading hours -- hitting a new 31-year low point at $1.1841. The pound slumped also to a 6.5-year trough against the euro, at 94.15 pence.
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