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Sterling is gaining near-term support after the rally triggered by Carney's comments, with the pound reaching a weekly high of 1.14 against the euro and 1.2976 against the dollar. ING analyst Viraj Patel described the gains as short-term and said it is too early to call a long-term recovery.
Markets are reassessing the BoE's policy bias after the Governor's earlier view that it was not yet time to raise rates.
The shift toward a tighter BoE stance is a near-term support for sterling, but the outlook is still uncertain. Feed buyers will see only a minor effect on dollar-denominated costs.
poundsterlinglive.comNews, Data, ForecastsJun 29, 2017Not enough comparable past events yet for a historical read.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
