The monetary unit of the U.K. was moderately changed on Friday against the world's reserve currency as the central bank prepares for a changing of the guard next month, according to published reports.
The pound held on to gains from a strong performance on Thursday against its cross-Atlantic rival, The Economic Times reports. Economic data noted that the U.K. economy is growing and additional measures that prompt development might not be needed.
Mervyn King is in the final days of leadership of the Bank of England, set to waltz into retirement and yield next month to Mark Carney who earlier this month left the same role at the Bank of Canada.
During King's final yearly speech at the Mansion House in London on Thursday eve, the outgoing governor said his successor will have his work cut out for him, Bloomberg reports.
"The future of banking will depend not only on changes to leverage but also on a greater degree of responsibility by all involved: the leaders of our banks, regulators and consumers," King said during the speech, according to Bloomberg. "We must restore trust in our banking system."
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