Pound Reaches 19-Months High Against EURO

GBP/USD rose more than 200 pips after the Bank of England Governor Mark Carney’s speech. Pound is bullish now. The pound reached the strongest level in 19 months against the euro after Bank of England Governor Mark Carney said the institution may raise its key interest rate from a record low earlier than investors expected.

Reports this week added to evidence of a robust economy, showing U.K. unemployment declined more than expected and industrial production rose at the fastest annual pace since 2011. Carney’s comments set him at odds with the European Central Bank, which cut interest rates and announced additional stimulus measures last week.

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