BoE's Mann warns sterling could fall further

Bank of England policymaker Catherine Mann cautioned on Tuesday that sterling could weaken further if investors have not yet fully priced in hawkish comments from the US Federal Reserve and the European Central Bank.

In an interview on Bloomberg TV, Mann said: "There has been a quite a hawkish tone coming from the Federal Reserve and ECB.

"The important question for me with regard to the pound is how much of that existing hawkish tone is already priced into the pound.

"If it's already priced in, then what we see is what we get. But if it's not completely priced in, then there could be depreciation pressure."

At 1020 GMT, the pound was down 0.1% versus the dollar at 1.2008.