Mark Carney placed jobless numbers center stage tying monetary policy to a 7% unemployment figure. With an economic recovery under way in the U.K., GBP's bias over the short- to medium-term is likely to be upwards.
The pound’s rally to a four-month high against the dollar is proving too much for currency traders unsure whether Mark Carney will step up stimulus efforts when he takes over as Bank of England governor next month.
The trend in the British pound is higher, as slightly better than expected economic news recently has kept the Bank of England off the accelerator as witness on Wednesday when the central bank met to decide the state of current interest rates.
As the Bank of England (BoE) continues its efforts to push inflation back to its 2% target, the pound Sterling has fallen to near 31-month lows against the dollar. Use a put spread to define your risks vs. rewards.