19th August 2014
Comments from Mark Carney which were published in a Sunday newspaper helped to boost the fortunes of the pound in forex trading yesterday.
In the Sunday Times interview, Dr Carney suggested that interest rates could increase before wage growth recovers, which seems to directly contradict a note from the Bank of England governor last week.
Either way, they're just words – the forex trading markets will be more interested in facts and figures, and tomorrow we'll see the release of the Bank's latest policy meeting minutes. If even one policymaker has voted in favour of increasing the base rate, that could make a big difference for sterling.
It would certainly move it further away from the currency's recent lows, but with the US Fed's minutes also due this week, there could be change caused from that side of the pair, particularly as volumes are currently lower due to many investors being on holiday at present.
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