Market Update: BOE Gov Carney Speaks – Key Takeaways

The BOE Governor testified, along with three Financial Policy Committee members, on the Financial Stability Report.


The BOE Governor testified, along with three Financial Policy Committee members, on the Financial Stability Report before the Treasury Select Committee, in London. Here are the key takeaways:

• Market view of Brexit vote most clearly expressed in the FX market
• Sterling rebound would appear to reflect some expectation that the process of the resolution would be extended
• This is the market’s view, not necessarily mine – Treasury select committee hearing, would not put much weight on short-term market movements.
• The GBP/USD had no reaction to the speech. Certainly, traders are awaiting the no-confidence vote later today.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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