WASHINGTON Oct 7 U.S. Treasury Secretary Jack Lew said on Friday it was necessary to give British authorities some time to determine what drove a steep drop in the pound before jumping to conclusions.
"Based on our own experience, it takes some time to find out why such movements occur," Lew told a news conference at the International Monetary Fund and World Bank Meetings in Washington.
The pound's fall by more than 10 percent against the dollar to below $1.15 was not in line with a largely stable exchange rate picture in recent weeks, Lew said.
"In general, we've seen exchange rates behaving in a stable way globally responding to macro-economic movements," he said. (Reporting by David Lawder and Leika Kihara; Editing by Andrea Ricci)
BRIEF-Metropolitan Bank And Trust says Q4 net income rose 3 pct to 5.5 bln pesos
* By year-end, total capital adequacy ratio (car) was at 15.5 pct with common equity tier 1 (cet-1) ratio at 12.5 pct Source text for Eikon: Further company coverage:
Magnitude 6.1 quake hits Zambia -USGS
Feb 23 A strong earthquake of magnitude 6.1 struck northern Zambia early on Friday, the U.S. Geological Survey said.