Why did GBP Rise on Carney's Guidance?

by Ashraf Laidi

Aug 7, 2013 13:36

The Bank of England has finally introduced a 7% unemployment threshold as part of its forward guidance, implying that monetary policy will not be tightened unless the ILO measure of unemployment nears 7% from its current level of 7.8%. So why did GBP rally on the news and Carney's testimony? Full chart & analysis

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