U.K.’s Hammond Says Confident Pound Will Find Appropriate Level
- Short-term currency movements ‘can be irritating at times’
- Pound had biggest one-day gain since 1993 after Brexit speech
U.K.'s Hammond on Brexit, Financial Services, Pound
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U.K. Chancellor of the Exchequer Philip Hammond said he’s confident the pound will find an "appropriate level" as Britain progresses with its plan to exit the European Union.
While short-term movements in the currency "can be irritating at times," the U.K. government has "a high degree of confidence in forex markets,” Hammond said in an interview with Bloomberg Television’s Francine Lacqua at the World Economic Forum in Davos.