Bank of England says 'looking into' pound flash crash

The Bank of England is "looking into" what caused the pound to slump more than six percent against the dollar in less than ten minutes today, a spokesman said.

"We are looking into what happened," he told AFP after sterling suffered a "flash crash" in Asia trading hours - hitting a new 31-year low point at USD 1.1841.

The pound slumped also to a 6.5-year trough against the euro, at 94.15 pence.