- Sterling fell over half a cent against the dollar and by a third of a cent against the euro, after a top Bank of England official warned that the economy may need lower interest rates even if the country manages to leave the European Union with a transitional deal.
- Michael Saunders will make the comments in a speech in Barnsley, northern England, according to wire reports
- Saunders is viewed as one of the most "hawkish" members of the BoE's Monetary Policy Council
- GBP/USD at $1.2282 vs $1.2328 before the remarks
- GBP/EUR at $1.1255 vs $1.1290 beforehand
- UK 10-Year Gilt yield at 0.48% vs 0.56%
- FTSE 100 opens up 0.9%
