PHOTO
British Pound Sterling banknotes are seen at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. Image used for illustrator purpose
The pound was set for its biggest one-day fall since early January on Thursday after the Bank of England cut interest rates as expected, with two officials calling for an even larger rate cut against a backdrop of weaker growth.
Sterling extended its fall, down about 1% at $1.2373 from $1.2421 before the decision, heading for its largest daily slide since January 2 and down from a four-week high the day before.
Britain's 10-year government bond yield also fell and was last down 5 basis points at 4.385%, from 4.42% before the decision.
The BoE lowered rates to 4.50%.
The UK's FTSE 100 was last up at 1.12% having traded around 1.15% higher before the BoE's announcement, while the mid-cap index rose as much as 1.7% on the day.
(Reporting by Greta Rosen Fondahn; Editing by Amanda Cooper)
