BOE MPC member Weale testifying
Carney:
- agrees with Weale
- will take exchange rate as a given
- MPC will make decision on mon pol regardless of where GBP is at the time
Shafik:
- near term impact of GBP moves will play out over a longer period of time
Vlieghe:
- MPC believes fall in GBP is due to uncertainty
- sees risk of EU vote affecting business confidence
- weaker GBP might offset other economic weakness but not guaranteed
No negative vibes on a weaker pound and that's enough to see GBP slapped lower again.
GBPUSD 1.4086 EURGBP 0.7816