Bank of England Governor Mervyn King said on Thursday that the central bank was not seeking any further fall in the level of sterling which now appeared to be fairly valued. The pound hit a two-and-a-half year low against the dollar on Tuesday, down more than 8 percent since the start of the year, though it surged 1 percent in the hours before ITV News released King's comments, made in a pre-recorded interview. "We're certainly not looking to push sterling down," King told ITV News in an interview. "We are moving to a properly valued exchange rate. I think we're probably there." Currency strategists ... (full story)