The pound fell to its lowest level in almost two weeks as investors feared the European Central Bank’s stimulus programme would spark another financial crisis.

The currency also tumbled to a four-year low against the U.S. dollar after data showed that the U,D.C. was the first major economy in Europe to fall below the $1 trillion threshold of its debt.

The U.K. is also facing a potential loss of almost £7 billion ($11 billion) in trade with Ireland and the Commonwealth of Independent States, the U-K.

government said.

The Bank of England governor, Mark Carney, said the Bank of Ireland would provide “stronger buffers” to the Bank for a further year or so to help stem the decline in the pound.

He also said the UAW and the Royal Bank of Scotland would increase their investments in the British economy.

The pound, which is trading at $1.1345, fell 0.8 percent to 70.17p.

The euro was up 0.2 percent to $1,218.60.

The dollar index, which measures the greenback against a basket of six major currencies, fell to 61.5 against the greenstar.

The British pound has been losing ground against the euro since it dropped in September.

It was at $2.1077.

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