Pound logs biggest quarterly drop since the financial crisis

The British pound fell Thursday, capping its worst quarterly performance since the financial crisis, after Bank of England Governor Mark Carney said the central bank would likely need to further ease monetary policy this summer.

Carney’s remarks sent the currency spiraling lower, pushing it to a 7.9% quarterly decline—larger than a 6.6% drop in the opening three months of 2013, but far smaller than the 19.3% drop seen in the final quarter of 2008.

Sterling GBPUSD, -0.2179%  traded at $1.3244 late Thursday in New York after Carney’s remarks. It traded at $1.3429 late Wednesday, rebounding from a 31-year low reached earlier in the week.

Meanwhile, the euro EURGBP, +0.0240%  strengthened against the U.K. currency, rising to 83.62 pence late Thursday, compared with 82.71 pence late Wednesday. The shared currency gained 5.5% on the quarter.

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