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Currencies: British pound consolidates after sinking to 2-month low

The British pound regained some lost ground against the U.S. dollar on Wednesday after falling to its lowest in two months, garnering some support on signs the Bank of England may consider scaling back stimulus later this year.

““Provided the data are still on track, I do think that beginning the process of withdrawing some of the incremental stimulus provided last August would be prudent moving into the second half of the year,” said Andrew Haldane, chief economist at the Bank of England, in a speech.

The pound came off session lows to trade at $1.2659, compared with $1.2629 late Tuesday in New York.

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