UK Pound Mixed Ahead of Carney Speech

All eyes are on Mark Carney and the Bank of England today. The pound is mixed as Forex traders wait for his first official policy speech since becoming Governor of the BOE. There is concern about inflation, and what’s next for the pound, and many are waiting to see what direction the sterling is likely to go next.

There has been a lot of interest in the pound lately. With signs of recovery in the UK economy, and with hopes that Bank of England Governor Mark Carney will provide solid insight, Forex traders are keen to make bets on the pound. They just aren’t sure which way to bet yet.
It’s been announced that Carney’s first official BOE policy speech will offer forward guidance, and that has many especially keyed up to see what he will see. There isn’t a lot of room to be dovish, though, and some think that the currency BOE track will lead to 2 per cent inflation.
For now, it’s mostly wait and see for the UK pound, and the sterling is turning in a mixed performance.
At 13:31 GMT GBP/USD is down to 1.5522 from the open at 1.5548. EUR/GBP is down to 0.8597 from the open at 0.8615. GBP/JPY is up to 151.6225 from the open at 150.8650.

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