BoE's Bailey rejects idea of 'sterling crisis'

FILE PHOTO: UK pound coins plunge into water in this illustration picture

LONDON (Reuters) - Bank of England Governor Andrew Bailey rejected the suggestion that Britain was suffering a sterling crisis, and said recent moves in foreign exchange markets were better understood as a period of dollar strength.

"It is not a crisis in my view at all," he told Bloomberg TV. "When you look across currencies, the common theme is the strength of the dollar," he added.

Sterling has weakened by around 10% against the U.S. dollar so far this year, but is broadly flat against the euro.

(Reporting by David Milliken; editing by William James)