Sterling is being pounded back below 1.21 – weakest since the flash crash lows, back to 31 year lows. The drop lacks an obvious trigger (more technical levels), but as The FT reports, nerves appear to be building in the run-up to a scheduled appearance by Bank of England governor Mark Carney to a House of Lords committee at 15:35 London time.
Cable plunged ahead of Carney’s speech…
back to 31 year lows…
It appears the market is not hopeful for Carney’s comments…
Headlines from speech…
- *CARNEY SAYS MONETARY POLICY HAS BEEN OVERBURDENED
- *CARNEY SAYS MONETARY POLICY CAN’T DO EVERYTHIING
- *CARNEY AGREES WITH SPIRIT OF MAY’S COMMENTS ON INEQUALITY
via http://ift.tt/2eNpfkT Tyler Durden