GBP Falls As BOE Governor Says Wage Data Softer Than The Central Bank Anticipated!

GBP fell versus 15of its 16 peers as reported by Bloomberg today when the Bank of England Governor Mark Carney said that the recent wage data has been softer than the Central Bank anticipated. This statement dampened the interest rates need to raise speculation in the market. This dampening of the interest rates needs to increase speculation resulted in the British Pound GBP falling down something like 50 pips.

“It’s notable that Carney focused on the lack of wage growth,” said Peter Kinsella, a foreign-exchange strategist at Commerzbank AG in London. “As a result, there’s been seen some marginal position shifting with sterling weakening. If wage growth continues to disappoint, the BOE will have to take that into account.”