The pound has fallen sharply against the dollar and the euro. A Bank of England policymaker said the U.K could yet fall back into recession.The pound fell 2.4 cents against the dollar to 1.503 dollars. Against the euro, it fell 1 cent to 1.100 euros.The Bank's Monetary Policy Committee member Andrew Sentance said there is a chance of a double-dip recession.The pound has been falling recently in the run-up to the general election. The UK exited recession during the last three months of last year but growth remains weak.