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14 May 2014
EUR/GBP extends gains after BoE QIR
FXStreet (Córdoba) - The Pound extended intraday losses, with EUR/GBP reaching fresh highs, after the release of the BoE Quarterly Inflation Report and as Governor Carney speaks.
Mark Carney sounded more dovish that one would expect as even though he said economy is starting to head back to normal, he assured rates are likely to remain at historical low levels for some time and that the MPC will maintain non standard measures as long as needed. Carney signaled the first rate hike will come at the end of the Q1 or early in the Q2 of 2015.
The EUR/GBP stretched to a fresh high of 0.8180 on the comments from around 0.8160 before the QIR. At time of writing, the EUR/GBP is trading at 0.8170, 0.33% above its opening price.
Mark Carney sounded more dovish that one would expect as even though he said economy is starting to head back to normal, he assured rates are likely to remain at historical low levels for some time and that the MPC will maintain non standard measures as long as needed. Carney signaled the first rate hike will come at the end of the Q1 or early in the Q2 of 2015.
The EUR/GBP stretched to a fresh high of 0.8180 on the comments from around 0.8160 before the QIR. At time of writing, the EUR/GBP is trading at 0.8170, 0.33% above its opening price.