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What is Sterling Telling Us?

What is Sterling Telling Us?

4 Years ago | July 15, 2015 00:00:00

GBPUSD was trading on the soft side Tuesday when the market was blindsided as the currency suddenly spiked higher by around 150 pips following comments from Bank of England Governor Carney at a Parliament’s Treasury Committee hearing that interest rates may rise soon. The market reacted to Carney saying, “The point at which interest rates may begin to rise is moving closer given the performance of the economy,” Ignored were his comments indicating the pace of rate hikes would be gradual. He said, "Once rates begin to adjust, we expect for those adjustments to be at a gradual pace and to a limited extent." 

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