Bank of England Governor Mark Carney spoke with ITN and said the BOE won’t tighten until the economy is growing sustainably.
It’s the general sortof comment he’s made before but it’s no reason to buy the pound. Cable is near the lows of US trading at 1.6214. It made a nice comeback from yesterday’s reversal but I still (very cautiously) favor the downside.
There is some minor demand at 1.6185/80 and more near 1.6150. Some offers at 1.6250/60 and large stops above 1.6270 with more above 1.6280.
