This is an exciting time for sterling traders as we lay witness to the dawn of a new era. Mark Carney takes the helm today as the new Bank of England Governor. The market, as well as some top officials in the UK government, have been widely anticipating this transition since it was first announced last November. Former Governor Mervyn King has led the BoE my entire forex career. I will miss the always predictable market reaction to King’s speeches (King speaks, sell sterling) but it seems the British are ready for new monetary leadership. Though Carney has set market expectations as a GBP bear, prices will not plunge just because he steps into office. The market will size him up first with plenty of price fluctuations and positioning in anticipation of his 1st interest rate announcement and inflation report. Will the Carney Era bring sterling strength or weakness? British prosperity or recession? In 5 short years, the markets will have their verdict.
- The Bank is ripe for revolution – Mark Carney’s task is huge (City AM)
- A little advice, Mr Carney…your credibility will be crucial (The Guardian)
- Mark Carney has a tough task ahead as Bank of England Governor (The Telegraph) [VIDEO]
- The Carney crush… why London is in a frenzy over the Bank of England’s dashing new Governor (London Evening Standard)
- NO GUARANTEE CARNEY WILL GET THE PRESSES ROLLING (David Smith’s EconomicsUK.com)
- Carney Is Coming: 4 Changes To Expect From The BoE Under Carney – Nomura (eFxnews)
- Britain is a ‘crisis economy’, says Mark Carney (The Telegraph)
- Mark Carney Leaves Canada With ‘Stealth QE’ Rising At Fastest Pace Since 2009 (Zero Hedge)
- FT: Incoming BoE Governor Mark Carney Could Get More Flexibility To Boost The Economy (Bullfax)
- King Recovers From Northern Rock Stumble to Leave BOE (Bloomberg) [King’s last speech]
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