Carney won't stay full term but reports of 2018 exit were premature
Bloomberg reports that Bank of England Governor Mark Carney plays to stay for nearly three more years.
He announced his decision in a letter to Chancellor of the Exchequer Philip Hammond. In it, he said he will assist with the "orderly transition to the UK's new relationship with Europe.
Hammond welcomed the decision and called Carney "highly effective".
On the weekend, a widely-cited report said Carney would leave in 2018 then a competing article said he was planning to stay longer. The answer, it seems, was somewhere in the middle.
Cable has been climbing for the past two hours. That looks like it was mostly demand ahead of month-end but the Carney news may have leaked into the market earlier. The headlines about the decision added a small extra lift to 1.2235.
