Reuters logo
Sterling bounces after Carney says not indifferent to FX rate
October 14, 2016 / 10:22 AM / a year ago

Sterling bounces after Carney says not indifferent to FX rate

LONDON, Oct 14 (Reuters) - Sterling recovered all of the day’s losses against the dollar on Friday after Bank of England Governor Mark Carney said the bank was not indifferent to the level of the pound, now down almost 20 percent since Britain voted to leave the EU in June.

Carney repeated the bank’s traditional line that it did not target a particular exchange rate for the pound, but he added that the level of the pound “does matter” for inflation and the conduct of monetary policy.

Sterling gained half a cent to turn flat on the day against the dollar at $1.2252 immediately after the remarks. It also gained 0.3 percent on the day to trade at 89.95 pence per euro. (Reporting by Anirban Nag and Patrick Graham)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below