Pound Drops as BOE Says Will Probably Have to Ease Policy Soon

The pound declined against the dollar as Bank of England Governor Mark Carney said the institution will probably have to ease policy over the summer to deal with the fallout of the Brexit vote.

Sterling dropped 0.9 percent to $1.3304 as of 4:05 p.m. London time. The yield on U.K. 10-year gilts dropped to a record low of 0.91 percent.

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