Pound Back To 2013 Levels After BOE's Broadbent Comments

MarketWatch Pulse

The pound got hammered back to levels not seen since November 2013 on Friday after Bank of England Deputy Governor Ben Broadbent dampened expectations for an immediate rate hike. The Governor said in an interview with ITV, broadcast on Thursday, that the U.K. is "not ready yet" for an increase in interest rates, but urged businesses and households to prepare for when it does happen. Sterling exchanged hands at $1.6100 in early London trade, down 0.3% from Thursday, according to FactSet.

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