Incoming member of the Bank of England’s monetary policy committee Adam Posen says the European central banks could be the first to raise rates, though he hopes no one will hike soon. The comments hit the Bloomberg wire about an hour ago and EUR/GBP has done nothing but fall, so it sounds like the market is ignoring the new man.
EUR/GBP has fallen back to 0.8530 with a UK clearing bank leading the way. We’ve been unable to ascertain for whom just yet.
