Carney Army at the BoE

2 July, 2013

Jak May

A fairly quiet day in the currency markets yesterday. Positive UK mortgage approvals released in the morning saw the pound strengthen but as the day progressed nearly all of the day’s gains were wiped out. Possibly the biggest news yesterday was the first official day in office for one of the most important jobs in the country as David Moyes began his tenure at Manchester United, with the ‘Wayne Rooney saga’ top of his ‘to do’ list. For Mark Carney, (starting his new role at the BoE) yesterday was quiet but it will be interesting to see the influence that the former Governor of the Band of Canada has over his fellow MPC members in the coming weeks/months. With his first meeting taking place this week it is unlikely that we will see any great surprises but all eyes will certainly be on the minutes (released later on in the month) to get a perspective of his views on monetary policy here in the UK. Today is relatively quiet with some PMI data out from the UK and inflation data from Europe. There are a few speeches from FED and BoE members throughout the day which could throw up some surprises and this afternoon there is a raft on data from the States but nothing of any great significance. Keep in touch with us here atCurrency Index so you don’t get caught out by any unsuspected movements in the market.