UK Pound Gets Help from Mark Carney

UK pound is getting a little help today, thanks to BOE Governor Mark Carney’s comments yesterday. While the pound is struggling against the US dollar, it is higher against the euro and the yen today.

Yesterday, making his first official policy statement as the Governor of the Bank of England, Mark Carney said that it wasn’t reasonable to expect that they could devalue into prosperity. This statement is being taken as a sign that more quantitative easing probably isn’t on the way for the UK pound, even though interest rates are likely to stay low for some time.
Thanks to that news, along with better economic data regarding the United Kingdom, the pound is performing pretty well against some of its major counterparts. Pound is down against the dollar, mainly because the dollar is surging on safe haven demand with uncertainty in Syria. However, the pound is higher against the euro and the yen today.
For now, the pound looks mostly bullish. With expectations that the asset purchase program won’t be increased, and with hopes for the economy, there is little to hold the pound back.
At 14:11 GMT GBP/USD is down to 1.5507 from the open at 1.5527. EUR/GBP is lower, dropping to 0.8539 from the open at 0.8592. GBP/JPY is up to 152.3980 from the open at 151.5950.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

twenty three − = twenty