Lower pound a 'welcome change', says former bank chief Lord King

The former Bank of England Governor, Mervyn King, has told Sky News that the plunge in the pound is a "welcome change" for the UK economy. Lord King said that recent fears over the behaviour of the pound, which has fallen to its lowest level against the dollar since 1985, were overblown. Last week the pound suffered a "flash crash", falling suddenly from $1.26 to $1.14 in the space of a few seconds, prompting the Chancellor, Philip Hammond, to warn that the UK would face an extended period of tu