LONDON Oct 14 Sterling recovered all of the
day's losses against the dollar on Friday after Bank of England
Governor Mark Carney said the bank was not indifferent to the
level of the pound, now down almost 20 percent since Britain
voted to leave the EU in June.
Carney repeated the bank's traditional line that it did not
target a particular exchange rate for the pound, but he added
that the level of the pound "does matter" for inflation and the
conduct of monetary policy.
Sterling gained half a cent to turn flat on the day against
the dollar at $1.2252 immediately after the remarks. It
also gained 0.3 percent on the day to trade at 89.95 pence per
(Reporting by Anirban Nag and Patrick Graham)