Sterling is Desperate

The Pound has significantly declined. It lowered about a cent versus the greenback, from 1.2758 to 1.2669 (weekly minimum). The currency also hit the 5-day minimum of 88.02 pence/euro versus the single currency. This came as respond to Mark Carney’s comments. The BoE Governor claimed that a rate hike would be unnecessary, shrugging off BoE members’ suggestions to do so basing on a growing inflation. Carney also mentioned that wage growth is slow.