Afternoon Update – Bank Of England, singing from the same hymn sheet?

Afternoon all

For those of you who don’t know who Mark Carney is click here.

GBP & EUR

Last night we saw the notorious pessimist, Carney, express his concerns should the country subject itself to a ‘no-deal’ scenario. However one of his main concerns was the strength of GBP (or lack thereof) should Theresa May’s deal fall at the first fence in parliament on December 11th. As mentioned in our “2 week countdown” blog yesterday, we really do think this is as good as we are going to see GBP over the next 4 months.

USD

Jerome Powell sent the Dollar on a downwards spiral yesterday, with the US currency shedding as much as 0.8% in just two hours against the Euro. This is following Powell’s comments that the interest rate is “just below the broad range of estimates of the level that would be neutral for the economy – that is, neither speeding up nor slowing down growth.” Obviously Powell doesn’t want to wage war on Trump so let’s keep an eye on his rebuttal!

Feel free to get in touch, have a good afternoon!

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