Tuesday, January 19, 2016

Pound falls to 2009 lows

The Pound versus the Dollar falls close to the 1.4100 level after the governor of the Bank of England, Mark Carney, said that the central bank is way too off before raising its interest rates. This has caused the Pound to give back its gains versus the Dollar and loses ground versus 31 other currencies. According to Carney, the drop in oil prices has kept inflation low in the UK, and that the British economy is still very weak. Therefore, the GBP/USD may try to visit the 1.4100 level.


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5 comments:

  1. UnknownJan 20, 2016, 3:54:00 AM

    Great assessment. I'll keep a close eye on the currency.

    ReplyDelete
  2. UnknownJan 20, 2016, 9:48:00 AM

    GBP/USD reached 1.4125 today and I doubt that's the end of the move to the downside.

    ReplyDelete
  3. UnknownJan 20, 2016, 3:06:00 PM

    Good point, I'll keep it in mind!

    ReplyDelete
  4. UnknownJan 20, 2016, 3:21:00 PM

    Very useful analysis, thank you.

    ReplyDelete
  5. UnknownJan 22, 2016, 8:52:00 AM

    Good insight.

    ReplyDelete

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