Carney sees Brexit as a treat for Sterling

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Friday, Apr 22 2016

There were no data relases from the UK today. Currency News reported that BoE Governor Mark Carney has recently defended his stance on a ‘Brexit’, stating that it is his ‘duty’ to give an honest account on what the outcomes of the UK Referendum vote could have on the national economy. BoE Governor Mark Carney Spoke before a House of Lords Committee on Thursday. The session was marked by one such appearance, this time from the BoE’s present Governor Mark Carney before a House of Lords committee.

The attendant Lords were particularly interested in Carney’s forecast for the potential effects of a vote to ‘leave’ the European Union by UK voters in the 23rd June In / Out Referendum. The pound may lose one-quarter of its value if the U.K. votes to leave the European Union in its upcoming referendum, the head of a top London hedge fund told CNBC. “If there’s a ‘Brexit,’ the currency is going to fall a great deal from here; so estimates range, but 25 percent is a possible estimate,” Jonathan Martin, CEO and chief risk officer of London-based Markham Rae, told CNBC on Tuesday at the Investors Choice Awards.

Sterling is currently being traded few points above 1.44 level. Pair is likely to find support around 1.4350 handle and resistance above 1.4440 level.

More in this category: « German Manufacturing PMI up, French down USD - Major events in the week ahead »

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