25 June 2018 ( Lagos ) : Elsewhere and in a week where political risk will still likely play a leading role in driving market sentiment, an exception to this rule will be traders keeping a close eye on a scheduled speech from Bank of England (BoE) Governor Mark Carney this coming Wednesday. Any comments on the future direction of UK interest rate policy will be particularly observed by the financial markets, after the Monetary Policy Committee (MPC) unexpectedly voted 6-3 to keep interest rates unchanged during the most recent policy meeting.
The news that BoE Chief Economist Andy Haldane had unexpectedly voted for a UK interest rate increase in June has revived optimism that the BoE might be closer to raising UK interest rates than anyone would expect. This optimism has also encouraged the GBPUSD to rebound away from its lowest level this year.
Source: Jameel Ahmad, Global Head of Currency Strategy & Market Research at FXTM and Lukman Otunuga , Research Analyst at FXTM
Reporting for EasyKobo on Monday, 25 June 2018 in Lagos, Nigeria
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